Kazakhstan is ready to implement high-level agreements with South Korea

Kazakhstan is ready to develop 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 a June 13 meeting with South Korean President Yoon Suk Yeol .

"Kazakhstan sees great prospects in the development of trade and economic partnership. To ensure the dynamic development of bilateral cooperation, the government is ready to immediately start the practical implementation of all the agreements reached at the highest level," Bektenov said, according to the press service of the Prime Minister.

The country is interested in cooperation with South Korea in projects in the field of energy, processing of rare earth metals, infrastructure development, automobile production and efficient management of water resources. 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 contributed to the significant growth of Kazakhstan's machine-building industry. The establishment of automotive clusters and production facilities for Hyundai, KIA and Daewoo Bus Global is an example of this progress. The plans include the production of car seats and multimedia systems, as well as the production of batteries for electric cars using South Korean technology. Bektenov emphasized the importance of this cooperation in training Kazakh personnel for the development of the automobile industry.

The two countries also seek to exchange technology and collaborate on projects in priority sectors. One of the promising areas of cooperation is the construction of a waste processing plant to improve waste management practices. The steel industry will benefit from the joint production of ferroalloys and the mining and processing of rare earth metals, which will then be exported to South Korea.

Expansion of hydrogen energy and aviation

Hydrogen energy is also on the agenda for cooperation. It is planned to localize the production of elevator equipment to increase construction safety. In aviation, new passenger air routes are being considered to strengthen cultural and business ties, which is a necessity caused 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. This is the construction of a new Lotte confectionery factory in Almaty, the production of Samsung household appliances in Karaganda, the production of Hi Air Korea oil and gas equipment in Almaty.