BAKU, Azerbaijan, August 10. Uzbekistan's ADM
Group, South Korea's Hyundai Corporation Singapore and leasing
company FINCOM have launched a joint venture with an initial
investment of about $40 million, targeting the expansion of auto
financing and leasing in the Uzbek market.


This was reflected in the statement by ADM Group.


The partnership, which was signed at the Tashkent International
Investment Forum, aims to build an investment and leasing portfolio
of up to $100 million within five years, the companies said.


The joint venture will initially offer leasing solutions for Kia
vehicles produced in Uzbekistan and sold through ADM's dealer
network. The partners plan to expand the product range to other
brands represented by ADM, including CHERY, HAVAL, TANK, Changan
and Hyundai Truck & Bus.


The company also plans to develop leasing solutions for
commercial transport and specialized equipment, as well as
financing products for commercial real estate and corporate
customers.


“Each party will contribute its own expertise and resources to
the project,” FINCOM co-founder Stanislav Kim said.







Under the partnership, Hyundai Corporation will provide access
to international financial instruments, global expertise and
corporate governance practices. FINCOM will develop leasing
products, manage operations and oversee customer service, while ADM
will contribute its extensive automotive distribution network,
production and distribution capabilities and customer base.


The partners expect the joint venture to provide more flexible
financing options as demand for leasing products grows in
Uzbekistan.


ADM is one of Uzbekistan's largest automotive groups, with more
than 90 official dealerships across the country. The company owns
ADM Jizzakh, an automotive plant built with private investment, and
works with several international brands.


FINCOM, meanwhile, is among Uzbekistan's leading auto leasing
companies and operates 12 branches nationwide. It serves as a
financial partner for leasing programs covering brands including
Kia, CHERY and HAVAL.


The launch adds a major international financial partnership to
Uzbekistan's growing automotive ecosystem and could broaden access
to vehicle financing for consumers and businesses.