Astana +7 °С
Almaty +14 °С
Exchange rates
USD 421.58
EUR 496.83
RUB 5.53
CNY 62.20

Kazakh President takes part in Kazakh-South Korean round table

17 August 2021 16:13

SEOUL. KAZINFORM – Kazakh Head of State Kassym-Jomart Tokayev has partook in a round table with the participation of major South Korean and Kazakh companies as a follow-up to the high-level negotiations, Kazinform cites the Akorda press service.

Addressing the round table, the Kazakh President informed the participants of the forum on the main outcomes of the inter-State negotiations with his South Korean counterpart President Moon Jae-in, highlighting that South Korea is a key strategic partner of Kazakhstan.

«The volume of direct investments from your country has totaled over $6bln over the past 15 years. Over 550 enterprises with Korean capital, including Samsung, Hyundai, Lotte, Posco, KNOC, and so on, operate in Kazakhstan. With their participation 24 large projects worth over $2.5bln have already been implemented, with the construction and commissioning of the Big Almaty Ring Road (BAKAD) with the involvement of SK Engineering&Construction as a landmark project,» said Tokayev.

The Kazakh Head of State told about the plans to implement 16 perspective investment projects to the tune of over $1.5bln in machine-building, housing construction, metallurgy, and agriculture.

«Technology-intensive production in manufacturing as well as Industry 4.0. technologies are of strategic interest to the country,» he said, noting that South Korea is a recognized world leader in economy digitalization and a pioneer in 5G network development.

The Kazakh President urged to tap into opportunities in subsoil use, pointing out that only 25% of Kazakhstan’s geology is studied. He told about the five projects to extract nonferrous and precious metals, inviting Korean companies to join.

Tokayev proposed Korean companies to look at investment opportunities in wind and solar energy as well as invited to join nuclear fuel production in Kazakhstan using Korean technology and carry out projects in waste energy utilization.

The potential of transit from Asia to Europe through Kazakhstan as well as diversification of Korean exports, including to the EAEU market, were noted.

The Kazakh President informed about his decision to set up a special working group to be led by Deputy PM Roman Sklyar focused on work with Korean enterprises. He noted that the implementation of large institutional, infrastructure projects will be controlled by him personally.

The Kazakh-South Korean round table was moderated by Chairman of the Korea International Trade Association Christopher Koo. Speakers of the round table were the Samruk Kazyna Chairman, Korean Trade, Industry and Energy Minister as well as the heads of South Korea’s Samsung Electronics, Doosan Heavy Industries&Construction, Hyundai Engineering & Construction, Dongil Construction, Lotte Confectionery, BC Card, Seegene Medical Foundation, Korea Health Industry Development Institute (KHIDI), Dongkwang Trading Corporation, and Kolon World Investment.

The event ended with the signing of 34 agreements worth $1.7bln, including 21 commercial documents and 13 non-commercial ones. The investment projects provide for transfer of Korean technology based on high efficiency and environmentally friendly production.