Kazakhstan ready to implement high-level agreements with South Korea

ASTANA — Kazakhstan is ready to advance its trade and economic partnership with South Korea, and the government is ready to quickly implement high-level agreements, Prime Minister Olzhas Bektenov said during his June 13 meeting with the South Korean president. Yoon Suk Yeol.

Prime Minister Olzhas Bektenov during his meeting on June 13 with South Korean President Yoon Suk Yeol. Photo: press service of the Prime Minister

“Kazakhstan sees great prospects in the development of trade and economic partnership. In order to ensure the dynamic development of bilateral cooperation, the government is ready to immediately begin practical implementation of all agreements reached at the highest level,” Bektenov said, according to the Prime Minister’s press service.

The country is willing to collaborate with South Korea on projects in the areas of energy, rare earth metal processing, infrastructure development, automobile production and efficient water resources management. The government is focusing on diversifying its economy by developing the manufacturing sector.

Advances in the automotive industry and waste management

South Korean investments have already spurred significant growth in Kazakhstan’s mechanical engineering sector. The creation of automotive clusters and production facilities for Hyundai, KIA and Daewoo Bus Global vehicles illustrates this progress. Projects include the production of car seats and multimedia systems, with a focus on manufacturing batteries for electric vehicles using South Korean technology. Bektenov stressed the importance of this cooperation in training Kazakh personnel to boost the automobile industry.

The two countries also aim to exchange technologies and collaborate on projects in priority sectors. A promising area of ​​cooperation is the construction of a waste treatment plant to improve waste management practices. The metallurgical industry will benefit from the joint production of ferroalloys as well as the mining and processing of rare earth metals, which will then be exported to South Korea.

Develop hydrogen energy and aviation

Hydrogen energy is also on the collaboration agenda. Plans are underway to localize the production of elevator equipment to improve the safety of construction sites. In the aviation sector, new passenger air routes are being considered to strengthen cultural and commercial ties, a necessity driven by the doubling of the number of Korean tourists to Kazakhstan over the past year.

Kazakhstan has a specialized working group on cooperation with South Korea, which manages several promising projects. These include the construction of a new Lotte confectionery factory in Almaty, producing Samsung household appliances in Karaganda, and the manufacture of Hi Air Korea oil and gas equipment in Almaty.