Hansem YES24 Group is set to expand its business in Uzbekistan, leveraging the automotive parts operations of Hansem Mobility. The group is also exploring local ventures in fashion and cultural content.
On September 15, key executives from Hansem YES24 Group, including Vice Chairman Kim Seok-hwan, Vice Chairman Kim Ik-hwan of Hansem Industrial, and President Sung Nak-gon of Hansem Mobility, attended the 'Korea-Uzbekistan Business Forum' held at the Shilla Hotel in Seoul.
The forum serves as a platform for Hansem YES24 Group to enhance its investments and localize its operations in Uzbekistan. Hansem Mobility has been collaborating with Uzbek automotive company UzAuto Motors from the outset, and it began local production of key components at the end of last year, with mass production starting this month.
This year, Hansem Mobility plans to invest $13 million in Uzbekistan's Fergana region. An additional $12 million is expected next year, with a total investment of up to $25 million under consideration. A factory completion ceremony is scheduled for October 13 in the Fergana region.
Hansem YES24 Holdings is promoting reading education initiatives through its educational and cultural content subsidiaries, Dong-A Publishing and the content platform YES24. The group is also considering the entry of its affiliates into Uzbekistan, including localizing apparel manufacturing and fashion brands.
Vice Chairman Kim Ik-hwan stated, "We will explore localization in the cultural content and fashion sectors, leveraging our investment in the automotive parts industry. We aim to contribute to the economic development and exchange between the two countries by actively hiring talented individuals from Uzbekistan."
* This article has been translated by AI.
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