Korea Exchange, Uzbek Ministry of Finance sign agreement for cooperation

 

The Korea Exchange (KRX) has agreed to cooperate with the Ministry of Finance of Uzbekistan on the maintenance of the stock market IT system.

 

The company said on Monday that it "visited the Uzbek Ministry of Finance building in Tashkent and signed a memorandum of understanding on mutual cooperation with the ministry."

 

According to KRX, it has carried out a project to modernize the country's stock market as part of overseas projects including exporting the stock market IT system. The latest agreement was promoted in partnership with the Uzbek government on reform policy measures such as the privatization of state-owned enterprises and the attraction of foreign investment.

 

"Uzbekistan is a country with high growth potential based on its abundant subsoil resources such as natural gas, and it is an important trading partner for Korea along with Russia and Kazakhstan in Eurasia," said KRX Chairman Sohn Byung-doo. "The stock market modernization project will be able to bring more positive synergies to the relationship."

 

Based on this agreement, KRX plans to establish and implement specific support measures, such as cooperation in the maintenance of IT systems in the Uzbek stock market, additional development contracts, and training for personnel.

 

by Eui-Myung Park

uimyung@hankyung.com