Hansey24 Group is set to expand its business in Uzbekistan, leveraging the automotive parts operations of Hansemobility. The group is also exploring local entry into fashion and cultural content sectors.
On September 15, key executives from Hansey24 Group, including Vice Chairman Kim Seok-hwan, Vice Chairman Kim Ik-hwan of Hanse Industries, and President Sung Nak-gon of Hansemobility, attended the 'Korea-Uzbekistan Business Forum' held at the Shilla Hotel in Seoul.
The forum marks a significant step for Hansey24 Group in enhancing investment and localizing operations in Uzbekistan. Hansemobility has been collaborating with Uzbek automotive company Uzavto Motors from the outset and began local production of key components at the end of last year, with mass production starting this month.
This year, Hansemobility invested $13 million in Uzbekistan's Fergana region. An additional $12 million is planned for next year, bringing the total investment to $25 million. A factory completion ceremony is scheduled for October 13 in Fergana.
Hansey24 Holdings is promoting reading education initiatives through its educational and cultural content subsidiaries, Dong-A Publishing and the content platform Yes24. The group plans to consider further expansion into Uzbekistan, including localizing apparel manufacturing and fashion brands, building on its investments in the mobility sector.
Vice Chairman Kim Ik-hwan stated, "We will explore localization in the cultural content and fashion sectors, using our investment in the automotive parts industry as a foundation. We aim to contribute to the economic development and exchange between our two countries by actively hiring talented individuals from Uzbekistan."
* This article has been translated by AI.
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