Shinhan Financial Group said Thursday it met with Uzbekistan's Minister of Investment, Industry and Trade Laziz Kudratov in Seoul to discuss expanding financial cooperation and supporting Korean companies' investments in the Central Asian country.

The meeting, held at Lotte Hotel Seoul on Wednesday, follows a series of high-level exchanges aimed at strengthening financial ties between the two countries. Shinhan Financial Group Chairman Jin Ok-dong visited Kazakhstan and Uzbekistan in April 2025 and later met Uzbekistan's Deputy Prime Minister Jamshid Khodjayev during his visit to Korea.

The latest meeting was proposed by the Uzbek government during Kudratov's visit to Korea to promote bilateral trade and investment.

The two sides discussed ways to expand investment and financial cooperation, including financing for Korean companies entering Uzbekistan, collaboration in the country's financial sector and Shinhan Bank's plan to establish a local subsidiary.

Shinhan Bank has operated a representative office in Tashkent since 2009 and is preparing to launch a subsidiary based on its long-standing presence and experience in the local market.

Shinhan Financial also plans to broaden its presence in Central Asia by leveraging Shinhan Card's expertise in consumer finance, including auto financing.

"Uzbekistan is a key market in Central Asia with strong growth potential," Jin said. "As a long-term partner, Shinhan Financial Group will contribute to developing the country's financial infrastructure and expanding economic cooperation between our two countries."

By Lee Han-gyoul (stlee0329@heraldcorp.com)