Korea is one of Kazakhstan’s largest trading and investment partners. Over the past 30 years, Astana and Seoul have developed strong relations based on mutual respect, trust, and genuine friendship. President Kassym-Jomart Tokayev made these remarks at the opening of the Kazakhstan-Korea Roundtable. The total volume of foreign direct investment from Korea to Kazakhstan has exceeded $12 billion, with more than 1,000 companies with Korean capital operating in the country. Meanwhile, bilateral trade exceeded $3 billion last year, and there is potential to double this figure. To this end, President Tokayev outlined priority areas for deepening Kazakhstan-Korea relations, with industrial cooperation being a major focus.
«Today our joint portfolio includes 51 projects worth over four billion dollars, covering car manufacturing, engineering, metallurgy and other sectors. Korean companies have already demonstrated that Kazakhstan is a competitive and reliable manufacturing base. Our goal is to build a fully integrated industrial ecosystem, encompassing localized components, advanced materials, electrical equipment, and electronics, with a focus on serving the broader Eurasian market,» President Tokayev noted.
Korean investment and technological expertise will be in demand in developing Kazakhstan’s mineral resource potential. This is particularly relevant as a global technology race is underway, and Kazakhstan holds significant reserves of critical minerals essential for emerging industries. Cooperation in construction and urban development will also be mutually beneficial. As President Tokayev emphasized, Kazakhstan has entered a stage of infrastructure development.
«We intend to significantly accelerate construction across country, from transport and utilities to housing and social infrastructure. I consider it as one of the key priorities of my presidency. We plan to make the territory of Kazakhstan a big construction site, focusing on social projects like hospitals, rehabilitation centers for children, multifunctional medical centers, modern schools, sport facilities, and transport infrastructure,» President Tokayev added.
According to the President, the energy sector is another important area of cooperation between the two countries. Hyundai Engineering is already involved in the construction of the Karachaganak Gas Processing Plant. There are also significant opportunities in transport and logistics. Kassym-Jomart Tokayev proposed establishing a joint venture for logistics projects. Alatau, the city of the future, could also offer numerous opportunities for mutually beneficial cooperation. The agricultural sector also holds considerable potential. Kazakhstan can increase its food exports to Korea, while also inviting Korean businesses to join value chains by combining technologies. The Head of State also emphasized that investors will receive comprehensive support from the Kazakh Government.
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