Kazakh-South Korean Economic Ties: A Booming Strategic Partnership


The Head of State held talks with President of the Republic of Korea Yoon Suk YeolDKNews.kz reports.

The program of Kassym-Jomart Tokayev's working visit to New York ended with a meeting with the President of the Republic of Korea Yoon Suk Yeol.

The topic of discussion was the prospects for further development of the Kazakh-Korean strategic partnership.

Kassym-Jomart Tokayev noted that friendly relations have developed between Kazakhstan and South Korea, in which the dynamic development of economic ties is of particular importance.

The President of Kazakhstan emphasized that the bilateral trade turnover shows steady growth, exceeding $6 billion last year.  At the same time, the total investment of Korean companies in the economy of Kazakhstan exceeded 8 billion dollars, securing a firm position among the top 10 major investors in our country.

As noted by the Head of State, more than 700 Korean companies and joint ventures are operating in our country today. An example is the active presence of such companies as KIA, Hyundai, Samsung, LG and others in the market of Kazakhstan.

During the meeting Kassym-Jomart Tokayev outlined promising areas of economic cooperation in the mining of rare earth metals, development of nuclear energy.

In turn, Korean President Yoon Suk Yeol noted that his country is interested in further deepening of mutually beneficial cooperation with Kazakhstan. According to him, Korean companies express particular interest in expanding existing and implementing new projects in mechanical engineering, mining and nuclear power.

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