Daewoo is Korean commerce flagbearer in Uzbekistan

27 Mar '06

1 min read

Daewoo International's promotional business activities in Uzbekistan have helped built up good commercial ties between Korea and Uzbekistan.

Since its establishment in 1992, cotton industry has been the key sector for this Korean-invested trading company.

So far, company has purchased a total of one million tons of cotton from Uzbekistan, and under its subsidiary Daewoo Textile Company, it has supplied cotton to North Korea, China and Southeast Asian countries.

Established in 1996 in the state of Fergana, Daewoo Textile Company opened a cotton-spinning mill the following year.

Since then, the company has played a significant role in the country's economy as well as becoming a role model as a successful foreign company in Uzbekistan.

Company has also widened the country's export market by increasing investments in areas of oil refining and natural resources.

It is planning to establish mutual ventures with other Korean companies in the exploration and extraction of natural resources such as oil, gas, gold, uranium and zinc in Uzbekistan.

More Daewoo Textile Company News... More Textiles News - South Korea...