The Seoul visit produced a $19 billion business package.
President Kassym-Jomart Tokayev said commercial agreements worth that amount were signed during his state visit to South Korea, as Astana and Seoul seek to give their strategic partnership a much larger economic dimension, DKNews.kz reports.
Tokayev disclosed the figure during narrow-format talks with South Korean President Lee Jae Myung on September 15. The two leaders also discussed Alatau City, Korean investment and the cultural ties connecting the two countries.
$19 Billion Becomes the Key Figure of the Visit
The scale of the commercial agreements is the strongest economic result announced during the presidential talks.
«As for bilateral relations, during this visit, commercial agreements worth 19 billion US dollars were signed. We are satisfied with our cooperation with Korean investors and are ready to continue working with them. There are promising plans for the construction of hotels, an oil refinery, and urban development projects. Particular attention is being paid to strengthening cultural and humanitarian ties,» Tokayev said.
The President did not provide a complete breakdown of the $19 billion package during the narrow-format meeting. His remarks, however, identified hotels, an oil refinery and urban development among the prospective areas.
The figure is significant against the existing scale of bilateral commerce. Kazakhstan-South Korea trade totaled $3.17 billion in 2025, according to previously published data.
That means the headline value of agreements signed during the visit is roughly six times the countries’ annual bilateral trade turnover. The comparison does not mean $19 billion will immediately enter the economy: commercial agreements can differ substantially in their structure, implementation schedule and degree of commitment.
Alatau City Moves to the Center of the Partnership
Tokayev singled out Alatau City during his talks with Lee Jae Myung.
«The Republic of Korea is a strategic partner of Kazakhstan. Our peoples have long been bound by strong ties of friendship and mutual understanding, as well as close cultural and humanitarian links. There are no contradictions or disagreements between our countries. Our goal is to develop bilateral relations comprehensively. Today, a high-level business forum was held with the participation of a representative delegation of the business community that accompanied me. Promising projects are being implemented in various fields. Our plans are highly ambitious. In particular, we discussed in detail the further development of the Alatau City project. This is indeed a very important project to which we attach great significance. Provisions concerning the status of this city have been incorporated into the Constitution. Korean companies will be provided with all legal guarantees. More than 120,000 ethnic Koreans live in Kazakhstan. All necessary conditions have been created for them; they are active members of our society,» the President said.
Korean participation in Alatau City is already moving beyond general expressions of interest.
During Tokayev’s Seoul visit, the Alatau City Authority and Korea Overseas Infrastructure & Urban Development Corporation, or KIND, exchanged an agreement on developing the master plan for Alatau Smart City. Potential Korean participation in residential districts and infrastructure is also under discussion.
This makes Alatau City one of the clearest examples of how Kazakhstan wants to restructure its relationship with South Korea: Korean capital and technology would be tied to long-term urban, industrial and infrastructure development rather than individual supply contracts.
Korean Companies Are Being Offered Legal Guarantees
Tokayev’s message to Korean investors was explicit: Kazakhstan wants long-term participation and is prepared to provide legal guarantees.
That matters because the economic agenda presented in Seoul stretches across projects requiring years of investment — from urban development and manufacturing to energy and transport infrastructure.
Earlier in the visit, Tokayev invited KIND to participate not only in Alatau City but also in Kazakhstan’s ports, regional airports and other infrastructure projects. The sides also discussed a potential Kazakh-Korean Joint Investment Fund designed to bring Korean capital and technology into infrastructure and energy.
Korean companies are simultaneously exploring Kazakhstan’s AI, digitalization, energy, industrial, logistics and critical-minerals sectors.
The emerging model therefore extends well beyond bilateral trade. Kazakhstan is trying to position itself as a production, infrastructure and technology platform for Korean business in Central Asia and the wider Eurasian market.
Hong Beom-do’s Legacy Gives the Talks a Historical Dimension
Economic agreements dominated the practical agenda, but both presidents devoted significant attention to the shared historical connection represented by General Hong Beom-do.
Tokayev recalled Kazakhstan’s decision to return the general’s remains to South Korea.
«I am well familiar with the history of General Hong Beom-do. He was a true hero and patriot. It can be stated with full confidence that preserving his memory has been a manifestation of mutual wisdom. It is remarkable that even more than a century later, the Korean people continue to remember their general. Paying tribute to his memory, we returned his remains to his homeland, thereby fulfilling our civic duty,» Tokayev said.
Lee Jae Myung responded by thanking Kazakhstan and its people.
«We thank you for your decision to return the remains of General Hong Beom-do, who played a special role in the history of Korea and in defending the Korean people in difficult times. At the time, ethnic Koreans in Kazakhstan were warmly received. We are grateful to you and to the entire Kazakh people for this,» the South Korean President said.
The historical connection has a modern social dimension. Tokayev said more than 120,000 ethnic Koreans currently live in Kazakhstan and described them as active members of Kazakh society.
That human connection has long been part of the bilateral relationship alongside investment and diplomacy. During the same Seoul visit, Tokayev presented Kazakhstan’s Order of Dostyk, Second Class, to five South Korean figures who contributed to relations between the countries.
Seoul Talks Shift the Question From Agreements to Execution
The two presidents concluded their narrow-format talks by reaffirming their intention to strengthen the strategic partnership and give it new practical substance.
The $19 billion figure raises the stakes considerably.
The next test will be the composition and implementation of that package: which projects reach final investment decisions, how much capital is actually deployed, what production is localized in Kazakhstan and how quickly the announced infrastructure and industrial projects move into construction.
One of those tracks is already becoming more concrete. Earlier, we reported that Korea’s KIND agreed to work with Kazakhstan on the Alatau Smart City master plan, while the talks also covered ports, regional airports and mechanisms for attracting Korean investment.
