President Kassym‑Jomart Tokayev highlighted prospects for strengthening trade and economic ties during his state visit to South Korea, Qazinform News Agency reports, citing the press service of Akorda. He noted that South Korea had invested more than $12 billion in Kazakhstan’s economy, with globally recognized Korean companies successfully operating in the local market.
“We are creating all necessary conditions for them and will continue to do so in the future,” Tokayev said. “Last year, about 51,000 Korean citizens visited Kazakhstan. This was largely facilitated by the rapid expansion of direct air links between the two countries.
A major joint project - the construction of Alatau City - has been launched. Today we will sign an agreement to open a branch of the Korean KAIST Institute in Alatau. I am confident this step will give new impetus to deepening our cooperation in education and science,” said the Kazakh President.
He also praised the level of interaction between Astana and Seoul on the international stage, stressing that the two states share common positions on global sustainable development and security. As it was reported, President of Kazakhstan Kassym-Jomart Tokayev is on a state visit in Seoul at the invitation of his South Korean counterpart, Lee Jae-myung.
Earlier, Kassym-Jomart Tokayev held a meeting with South Korea's Prime Minister Han Seong-sook, during which he proposed doubling mutual trade. Addressing the Kazakh-Korean roundtable meeting, Kassym-Jomart Tokayev emphasized that over the past three decades Astana and Seoul had built strong relations based on mutual respect, trust, and true friendship.
The Kazakh President described South Korea as one of Kazakhstan’s largest trade and investment partners. Tokayev proposed Hanwha Group to broaden cooperation with Kazakhstan. The Head of State met with Sung Kim, president and head of the strategic planning division at Hyundai Motor Group.
The Hyundai Motor Group executive confirmed the company’s intention to further expand its presence and deepen production localization in Kazakhstan. The Kazakh President held talks with Kim Bok-hwan, president and CEO of the Korea Overseas Infrastructure & Urban Development Corporation (KIND), to discuss expanding investment cooperation and KIND’s potential involvement in the development of Alatau City.
President Kassym-Jomart Tokayev and South Korean Prime Minister Han Seong-sook were also briefed on the Alatau Smart City projects.