A delegation from IT Park Uzbekistan, led by CEO Farhod Ibragimov, conducted a meeting in Korea with the management of the Korean IT company Okestro, which has expressed interest in establishing an office in Uzbekistan.
Okestro is a Korean IT company that specializes in AI and Big Data-based solutions, software development, and building e-government solutions. Okestro employs 460 people who work on products such as Symphony AI, Okestro CM, Contrabass, and Trombone, and its revenue for 2023 amounted to $51 million.
During the meeting, Farhod Ibragimov provided Okestro representatives with comprehensive information on Uzbekistan's IT landscape and the conducive conditions for the development of cloud technologies. Furthermore, the CEO emphasized the active growth of the country's human capital, noting that Uzbekistan currently has 21 million working-age individuals, over 5 million of whom are proficient in English and more than 14,000 in Korean. Annually, the talent pool is augmented by 125,000 university graduates and over 25,000 IT specialists, positioning Uzbekistan as a highly desirable IT hub for the international market, and particularly for Okestro.
During the talks, Okestro’s CEO, Kim Min Joon revealed that the company is currently interested in qualified specialists from Uzbekistan and plans to train them in cloud technologies according to Okestro's standards. This training will facilitate the execution of IT projects and outsourcing services from Uzbekistan in the future. Okestro is keen on the Zero Risk program offered by IT Park, which provides comprehensive support from the Uzbek technopark, including partial reimbursement of local personnel costs and rent-free office spaces in various regions of the country.
The IT Park delegation also presented detailed information on the benefits available to international companies that are residents of IT Park, including tax incentives and government support measures. Kim Min Joon expressed interest in Uzbekistan's business environment and plans to visit the country personally during ICT Week in September this year.
Future collaboration with Okestro is anticipated to create new employment opportunities for young specialists in Uzbekistan. The increase in outsourcing companies in Uzbekistan will also enhance the country's standing in the international outsourcing market.