(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4. The trade turnover
between Kazakhstan and South Korea in 2022 reached a record high
level of over $6.5 billion, trend reports.
"Bilateral economic projects such as Big Almaty Ring Road
(BAKAD), automobile assembly plants, and others are being
successfully implemented. We have agreed to continue developing
cooperation in supply chain creation through collaboration in areas
such as nuclear industry and lithium exploration," said South
Korean Minister of Foreign Affairs, Park Jie-won, during a press
conference after the meeting with Deputy Prime Minister and
Minister of Foreign Affairs of Kazakhstan, Murat Nurtleu, in
Nurtleu noted that South Korea is one of the top 10 largest
investors in Kazakhstan and the second-largest trading partner in
Asia. To date, the Republic of Korea has invested $8.5 billion in
the Kazakh economy, with $1.5 billion in direct investments in
2022. Both countries are interested in increasing the volume of
investments in the future.
Kazakhstan is home to 740 companies with Korean business
participation, including KIA, Hyundai, Lotte, POSCO, and SK,
operating in sectors such as automotive manufacturing,
construction, petrochemicals, and food production. They have
already implemented 28 major joint projects.
The Kazakh side is ready to create favorable conditions in the
country for South Korean companies planning to enter our market. "I
once again confirm our mutual interest in establishing fruitful
cooperation with Korean companies in areas such as energy,
metallurgy, healthcare, advanced IT and digitization technologies,
automotive manufacturing, agriculture, and industry," added Murat
Earlier, it was reported that the foreign ministers of the
Republic of Korea and Kazakhstan agreed to organize a visit by
President Moon Jae-in to Kazakhstan next year.
The official visit of the Minister of Foreign Affairs of the
Republic of Korea, Park Jie-won, to Kazakhstan will last until June
1. In Almaty, a meeting between President Kassym-Jomart Tokayev and
the South Korean Foreign Minister is also scheduled.
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