Korea Exchange to export stock IT system to Uzbekistan

SEOUL, Aug. 24 (Yonhap) -- South Korea's bourse operator said Wednesday it has signed a deal with its Uzbek counterpart to export its stock market information technology (IT) system.
Under the deal, the Korea Exchange (KRX) will provide and assist the Uzbek stock market with the operating system that covers trading, payment and brokering, the KRX said in a statement. It added that the establishment of the operating system is due to be completed in 2013.
In return, the KRX will be entitled to secure some stake in the Uzbek stock market operator, but it did not provide more details.
The deal was inked by the KRX and the State Property Committee of Uzbekistan on Tuesday when South Korean President Lee Myung-bak was on his two-day official visit to the country.
The KRX has been ramping up efforts to make inroads into overseas markets in a bid to boost its global presence. It has already started to undertake similar projects in Laos, the Philippines and Malaysia.
elly@yna.co.kr