South Korea’s Timonet Korea Inc. plans to open an office in Uzbekistan

Representatives from IT Park Uzbekistan, led by Makhliyo Muksinova, the Services Export Development Director, convened with a delegation from the South Korean firm Timonet Korea Inc., which was headed by its President, Kwon Hee Min. Following their discussions, both parties reached an agreement regarding the company's intention to establish an office in Uzbekistan and signed a memorandum of understanding.

Timonet Korea Inc., based in Seoul (Republic of Korea), specializes in providing IT services and solutions across various domains, including network infrastructure, cybersecurity, software development, systems integration, and content delivery via OTT (Over-the-Top) platforms. The company holds five patents and multiple international certifications, such as ISO 9001 and KS Service, and has received government accolades for its contributions to job creation and human resources development.

The meeting also covered the registration processes for the company in Uzbekistan, the nuances of national legislation, and the presence of a highly skilled workforce proficient in technical skills and foreign languages. Representatives from IT Park offered comprehensive details on the support measures available for foreign investors, which include tax incentives, soft-landing programs, and administrative support.

IT Park Uzbekistan and Timonet Korea Inc. formalized their collaboration by signing a Memorandum of Understanding, which aims to enhance strategic partnerships in the development of OTT platforms, IT services, and joint talent development initiatives. The agreement outlines plans for the creation and launch of an OTT platform specifically designed for the Uzbek market, along with collaborative projects in professional training, outsourcing, and the exchange of IT professionals.

Timonet Korea Inc. intends to set up an office in Uzbekistan to deliver OTT services (video content in Uzbek, Russian, and English, akin to Netflix) targeting the CIS markets, with plans for future expansion to a global audience.

This collaboration with Timonet Korea Inc. is expected to bolster IT Park Uzbekistan’s international ties with South Korea, draw investments into cutting-edge technologies, and create new job opportunities. In the long run, the company’s office in Tashkent is anticipated to become an integral part of the expanding ecosystem for global IT entities and to enhance the country's export capabilities.