Ministry of Finance and Economy holds Korea-Central Asia economic cooperation expert forum; discussions range from energy and critical mineral supply chains to AI, digital and green transition

Heo Jang, second vice minister of the Ministry of Finance and Economy [Ministry of Finance and Economy]
Heo Jang, second vice minister of the Ministry of Finance and Economy [Ministry of Finance and Economy]

South Korea has begun actively exploring ways to expand economic cooperation with Central Asia, using a Korea-Central Asia summit scheduled for September as a key opportunity.

Heo Jang, second vice minister of the Ministry of Finance and Economy, convened a "Korea-Central Asia Economic Cooperation Expert Forum" at the Government Seoul Complex on Thursday to discuss strategies for deepening economic ties with the region and identifying concrete cooperation projects. The forum was organized to support the successful staging of the Korea-Central Asia summit set for September.

"Amid growing geopolitical tensions and supply chain uncertainty following the Russia-Ukraine war and the situation in the Middle East, the strategic value of Central Asia — a resource-rich region and a vital corridor linking Europe and Asia — is rising," Heo said. He added that the upcoming summit would be the first multilateral summit ever held between South Korea and the Central Asian region, and the only multilateral summit to take place in South Korea this year. He called it "an important opportunity to take Korea-Central Asia economic cooperation to the next level."

The forum brought together officials and experts from KOTRA, the Korea International Trade Association, the Export-Import Bank of Korea, the Korea Overseas Infrastructure and Urban Development Corporation (KIND), and the Korea Institute for International Economic Policy (KIEP). Participants assessed that the two sides hold significant cooperation potential, citing Central Asia's strong growth momentum, the region's supply chain potential in energy and minerals, its strategic value as a logistics hub between Europe and Asia, and the complementary industrial structures of South Korea and Central Asian economies.

Experts particularly called for strengthening supply chain cooperation in crude oil, natural gas and critical minerals, beyond the existing focus on expanding trade and investment, improving the business environment and developing infrastructure. They also reached consensus that cooperation should expand into future industries where South Korea holds competitive strengths — including AI, digital transformation, renewable energy-centered green transition, biotech and smart infrastructure.

Participants also noted that because Central Asian countries differ in industrial structure and stage of development, tailored cooperation models suited to each country's needs are essential. There was broad agreement that South Korea should reinforce institutional frameworks such as high-level cooperation channels, and actively support Korean companies' entry into local markets by expanding financial support that links official development assistance with export financing.

Heo said the policy proposals and cooperation ideas discussed Thursday would be "actively reflected in future policy formulation and summit preparation." He added that he would "contribute actively to elevating Korea-Central Asia cooperation to a new stage" through high-level talks including the Korea-Uzbekistan Deputy Prime Minister Meeting and efforts to chart the direction of economic and financial cooperation.


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