Seoul: President Lee Jae Myung on Wednesday called for efforts to diversify trade between South Korea and Central Asia into advanced industries, including digital technology, and to combine the region's rich mineral resources with South Korea's manufacturing prowess to lead the global market.

According to Yonhap News Agency, the South Korean president outlined the vision at the South Korea-Central Asia Business Summit in Seoul, aimed at deepening economic cooperation with five Central Asian countries -- Kyrgyzstan, Kazakhstan, Uzbekistan, Turkmenistan, and Tajikistan. The event followed the inaugural South Korea-Central Asia Summit, where leaders sought to diversify global supply chains by leveraging Central Asia's reserves of critical minerals and energy resources, along with South Korea's processing skills.

Lee emphasized the need to diversify trade beyond South Korea's current focus on auto exports and energy imports, into areas such as consumer goods, bio and digital technologies, and other advanced industries. To support this, Seoul plans to establish digital systems to lower customs barriers and streamline customs clearance. The president praised the establishment of "Korean desks" in Central Asian governments to assist Korean companies.

Lee also called for cooperative frameworks in the critical minerals sector, noting the importance of Central Asia's mineral resources in the manufacturing of electric vehicles, batteries, and semiconductors. He proposed collaboration across the entire critical minerals cycle, from exploration to production.

The South Korean president assured that Seoul would be a reliable partner in building future infrastructure in Central Asia, which is accelerating its modernization efforts in urban development, high-speed trains, and electricity networks. "If South Korea joins hands with these five countries and share wisdom, we can accomplish anything together," he said.

The summit, also attended by the Central Asian presidents, brought together over 500 government officials and business leaders, including executives from Samsung Electronics, POSCO, and Hyundai Motor. Participants discussed market potential and business opportunities, with Seong Ghi-hong, senior presidential secretary for public relations and communication, highlighting the discussions on expanding into each other's markets.

In conjunction with the event, 19 memorandums of understanding were signed, including partnerships involving Hyundai Motor and LG Electronics, to facilitate South Korean expansion into Central Asian markets, Seong noted.