BAKU, Azerbaijan, August 8. Kazakhstan and South Korea discussed expanding investment cooperation and attracting Korean technologies to priority sectors of the Kazakh economy.
This was reported by the press service of Kazakh Invest National Company JSC following a working visit to South Korea by a Kazakhstani delegation led by Ardak Zebeshev, Chairman of the Investment Committee of Kazakhstan’s Foreign Ministry.
The delegation held talks with representatives of major Korean companies, government institutions and business associations, focusing on joint projects, trade and economic cooperation, and opportunities to attract Korean capital and advanced technologies.
"Particular attention was paid to the development potential of Kazakhstan’s regions, including their industrial, infrastructure and resource capabilities. The sides discussed the participation of Korean companies in managing industrial and special economic zones, as well as the development of airport and transport-logistics infrastructure," the statement of Kazakh Invest says.
During a meeting with Vice President for International Cooperation at the Korea International Trade Association (KITA) Lee Sang-jun, the parties discussed measures to support investment projects of South Korean companies in Kazakhstan and attract Korean technologies in areas such as industry, artificial intelligence, green energy and global supply chains for electric vehicle production.
KITA, which unites more than 70,000 companies, supports the development of international trade and economic cooperation and assists Korean businesses in expanding their presence in foreign markets.
Talks with President of the Korea Overseas Infrastructure & Urban Development Corporation (KIND) Kim Bok-hwan focused on prospects for joint development of the Alatau City project, the Middle Corridor and transport and logistics infrastructure in Kazakhstan.
KIND representatives highlighted the significant potential for cooperation with Kazakhstan and expressed interest in building long-term partnerships.
During discussions with Chairman and CEO of YPP Corporation Baek Jong-man, the sides reviewed the progress of the company’s investment project in Kazakhstan’s green energy sector. YPP Corporation specializes in electricity projects, renewable energy, green hydrogen and green ammonia production, as well as battery energy storage systems (BESS).
Kazakhstan and Hyundai Engineering discussed opportunities for developing regional industrial clusters and implementing joint investment projects in infrastructure, energy and oil and gas chemical industries.
The Kazakh delegation also held talks with LX International on investment projects in industrial development, including cooperation in critical minerals, logistics and high technologies.
Zebeshev emphasized the readiness of the Kazakh Government to provide comprehensive support to Korean investors and create favorable conditions for doing business in Kazakhstan. Following the visit, the Korean side confirmed its interest in further expanding investment cooperation and developing joint projects in priority sectors of Kazakhstan’s economy.
