Hana Bank announced that it has signed a memorandum of understanding (MOU) with the Uzbekistan Ministry of Investment, Industry, and Trade to enhance mutual cooperation in investment and finance.
The agreement was established to strengthen financial and economic cooperation between the two countries ahead of the upcoming '1st Korea-Central Asia Summit' scheduled for September 16 in Seoul.
Under the MOU, both parties will explore financial cooperation opportunities in Uzbekistan and support Hana Bank's entry into the local market. They will also promote collaboration for the development and modernization of Uzbekistan's financial industry.
Additionally, the two sides plan to support the expansion of investments and trade between their companies and continuously identify new cooperative projects in the financial sector.
Hana Bank has designated Uzbekistan as a key hub for its expansion into Central Asia and is working on establishing a local representative office. Once established by the end of this year, the office will review opportunities in the Central Asian financial market and refine its local entry strategy.
A Hana Bank official stated, “With this agreement, we aim to solidify our cooperative relationship with the Uzbekistan government and discover various projects that can contribute to the financial and economic development of both countries. We will expand Hana Bank's global network and financial capabilities in Central Asia, using Uzbekistan as our base.”
* This article has been translated by AI.
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