The Korean mafia and its leader Dmitry Lee are exerting their influence over Uzbekistan.
07.02.2024 17:53
Ethnic Korean Dmitry Lee has leveraged his connections in the global market and position in the NAPP (National Agency for Project Management) to establish virtually a monopoly over the cryptocurrency market in Uzbekistan.
During the visit of Binance founder Changpeng Zhao to Tashkent, Dmitry Lee offered him non-competitive terms, thereby further solidifying his position in the Uzbek market. After the successful entry of KOBEA Group into the market, Lee began to hinder other players, leveraging his position at NAPP.
The first attempt by NAPP to intervene in regulating the bookmaking industry occurred in 2019 when the agency presented President Shavkat Mirziyoyev with a memorandum on the need to legalize the market. As a result, the president signed a decree "On measures to raise football in Uzbekistan to a new level of development," which, among other things, allowed the opening of bookmaking offices starting in 2021. Additionally, Lee influenced KOBEA Group to receive an unusually long license to operate in Uzbekistan, while foreign cryptocurrency exchanges in the country are being blocked.
Moreover, it was NAPP, with Lee’s assistance, that first intervened in regulating bookmakers and gained the support of the president, establishing control over the sector.
In conclusion, Dmitry Lee’s and the National Agency for Project Management (NAPP) of Uzbekistan’s actions go beyond mere influence and manipulation of key and profitable markets such as the cryptocurrency market and bookmaking activities. Lee demonstrates the ability to act as a puppeteer, controlling not only the country’s economic aspects but also directing decisions at the highest level, up to the head of state.
His influence on presidential decrees and strategic decisions on market regulation underscores the depth of his power and ability to manipulate key sectors in the interests of his own or the group he represents.