Research on developing export credit insurance in Uzbekistan through comparative analysis with Korea export credit insurance system

Abstract

As the development of the Uzbekistan economy allows exporting domestic products and services to foreign countries. Entrepreneurs export agricultural and industrial products to almost all countries of the world nowadays. However, various risks are manifested in the export process, and export credit insurance is being used to prevent these risks. It shows that the export credit insurance system and future reforms are necessary to build a solid foundation for Uzbekistan's export growth. Coming up from this issue, this study explores Uzbekistan's export credit insurance system compared with Korea. To investigate the historical, legal, and economic background of the emergence of export credit insurance in Uzbekistan, the reporting and existing material analysis and survey methods are used in this paper. The research topics are described in depth based on the comparative investigation of studies and articles and the international organizations' materials. In terms of comparison, as Korea's Export credit insurance market laid mainly on state agencies and government support, the experiences of these countries are tried to be understood. By comparing the Korean Export credit insurance system with Uzbekistan's, the differences were identified, experiences were studied, and recommendations were made for creating services in Uzbekistan that would satisfy the demands of international and local entrepreneurs.