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South Korea eyes establishing new jewelry plant in Tashkent

Uzbekistan Materials 17 February 2021 17:11
South Korea eyes establishing new jewelry plant in Tashkent

BAKU, Azerbaijan, Feb. 17

By Klavdiya Romakayeva - Trend:

Uzbekistan and South Korea discussed the production of export-oriented jewelry made of gold with a modern design in Uzbekistan, Trend reports with reference to Dunyo information agency.

According to the information, the total cost of the investment project on establishing a new jewelry plant in Tashkent will amount $5 million.

The issue was discussed at the meeting of the Ambassador of Uzbekistan Vitaly Fen with the chairman of the South Korean Federation of Jewelry Industry Lee Bong Seung.

Lee Bong Seung informed about the establishment in Tashkent at the beginning of 2019 of a foreign ASIA AVID enterprise, which was one of the first to join the Association of Jewelers of Uzbekistan.

He said that all preparatory work has been completed for the implementation of the project.

The South Korean side expressed its readiness to organize the production part of the project, including the introduction of advanced technologies, the use of modern design and the training of local personnel.

“Production equipment worth $1.5 million has been prepared for shipment to Uzbekistan. Most of the equipment has no analogues in the world and was manufactured by leading South Korean companies. The organization, together with the Uzbek partner of a full-fledged production in Uzbekistan, will create 500 new jobs within 3 years,” he added.

Lee Bong Seung also expressed interest in exporting finished jewelry products from Uzbekistan to the Hong Kong market, which is the largest in Asia. He announced his readiness to reorient orders coming from Hong Kong to the joint venture being created in Uzbekistan.

“This will make it possible to establish a stable export of jewelry and other products from precious metals with high added value from Uzbekistan,” he stressed.

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