Youngone Corp. engages in the manufacture and distribution of outdoor sportswear, shoes, and backpacks. It offers its products in South Korea, China, Vietnam, Taiwan, India, Thailand, the United States, and Europe. The company was founded in 2009 and is based in Seoul, South Korea. Youngone Corp. is a subsidiary of Youngone Holdings Co., Ltd. Total assets of the company exceeds US$2 billion.

Chairperson of the State Committee of Uzbekistan for privatization, demonopolization and development of competition Aziz Abduhakimov briefed the guest on economic development of Uzbekistan, role of the committee in strengthening role of private sector in economy. He also provided information on measures, conducted by the government of Uzbekistan, to stimulate investments, creation of new enterprises, equipped with new equipment, production of export-oriented and import-replacing products.

Head of Youngone Corporation said that South Korean company is planning to create capacities on production of clothes and textile products in Tashkent city and Tashkent region, taking into account favourable investment climate, its unique and geographic location of Uzbekistan.

Heads of the Uzbek committee and Uzbekyengilsanoat expressed readiness to assist Youngone Corporation to prepare project documents, which will speed up adoption of decision on project implementation.

Sung Gi Hak expressed gratitude for warm welcome and expressed readiness of Youngone Holding to cooperate with Uzbekistan in future.