This is precisely the objective of the initiative put forward by President of Uzbekistan Shavkat Mirziyoyev at the first Central Asia–Republic of Korea Summit to establish a Regional Investment Alliance for Critical Minerals. As the President noted, the Alliance is intended to facilitate the creation of powerful processing clusters covering the entire production cycle, from geological exploration and extraction to deep processing and the manufacture of high-value-added products.
The initiative rests on sound economic logic. Korea is interested in securing reliable supplies of materials for its industries and possesses advanced technologies, production expertise and investment capacity. The Central Asian countries, in turn, seek to develop their own industrial capabilities and create skilled jobs. Cooperation will undoubtedly yield the greatest benefits when Korean companies participate not only in purchasing raw materials but also in establishing processing facilities in the region. This approach is consistent with the agreements reached at the Summit on developing local production.
At the same time, every project will require careful preparation. The existence of a mineral deposit does not automatically mean that its extraction and processing will be commercially viable. Investors need reliable data on reserves, access to energy and water, efficient logistics, and a clear understanding of who will purchase the final product. The OECD has highlighted the shortage of up-to-date geological data and the infrastructure constraints facing the region. Therefore, one of the Alliance’s principal tasks could be the joint preparation of projects that are attractive to investors and industrial customers.
Uzbekistan already has a solid foundation for this work. The Uzbek-Korean Scientific and Technological Centre for Rare Metals and Alloys operates in the country, while the Uzbek Technological Metals Complex continues to develop. At the business summit in Seoul, plans were presented to implement 120 critical-minerals projects worth more than USD 4 billion. It is important to determine where Korean technology and investment can deliver the greatest practical impact for these projects.
The regional nature of the Alliance is of particular value. The Central Asian countries possess different resources and industrial capabilities that can complement one another. By combining these assets with Korea’s capabilities, the parties will be able to develop production chains that benefit not only individual countries but the entire region. This is the initiative’s main potential: to transform Central Asia’s natural wealth into a source of shared industrial development.
The implementation of this initiative will undoubtedly give new impetus to cooperation between Central Asia and the Republic of Korea. Joint ventures, technology transfer and specialist training will help the countries of the region strengthen their economic resilience, create new opportunities for young people and improve people’s well-being. I am confident that such a partnership will reinforce the unity of the Central Asian countries and ensure the sustainability of regional development processes.
Kallibek Kamalov, International Institute for Central Asia
