Signing of Cooperation Agreement with Korean KT Corporation held in Bishkek

Bishkek, Nov. 11, 2022. /Kabar/. The Presidential Administration of the Kyrgyz Republic hosted a ceremony of signing a cooperation agreement between the Korean KT Corporation and the Ministry of Economy and Commerce of Kyrgyzstan regarding the implementation of a joint project to create a trade service provider. The purpose of creating a trade service provider is to create an environment that connects merchants, payment systems and commercial banks. It is expected that the successful implementation of the project will become a catalyst for ensuring transparency in the Kyrgyz economy, contribute to the eradication of the shadow economy, the development of digital payment technologies, and an increase in the share of non-cash payments and settlements in the Kyrgyz Republic. The parties agreed to design and build a so-called trade service provider to lead the digital transformation of the financial sector in the region in line with the country's economic development plan.