South Korean Companies To Create Cluster For Automotive Component Production In Kazakhstan
Date
6/12/2024 3:11:48 PM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 12. South Korean
companies are planning to start the next stage in the development
of the automotive industry - the creation of a cluster for the
production of automotive components in Kazakhstan, President of
Kazakhstan Kassym-Jomart Tokayev said, Trend reports.
He spoke during the Kazakh-Korean business forum held in
Kazakhstan.
According to the president, a good basis for mutually beneficial
industrial cooperation between the two countries has been created
in the automobile industry.
"Hyundai automobiles are already successfully assembled in
Kazakhstan. Next year, we expect the launch of a full-cycle KIA
plant with an investment of $200 million. It should be noted that
the company, for the first time in its history, invested in the
construction of the plant outside of South Korea, choosing our
country for this purpose," Kassym-Jomart Tokayev said.
Meanwhile, there are over 700 joint ventures in Kazakhstan with
South Korean capital involved at the moment.
"Numerous Korean companies are investing in Kazakhstan, aiding
in job creation and industrial growth. Moreover, they're actively
involved in modernizing Kazakhstan's national infrastructure
through projects like the construction of the Big Almaty Ring Road
(BARR) and a combined-cycle power plant," the president of
Kazakhstan added.
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