Kazakhstan and South Korea Discuss $3.9 Billion in Joint Industrial Projects

Kazakhstan's Minister of Industry and Construction, Yersain Nagaspayev, held talks with his South Korean counterpart, Minister of Trade, Industry and Resources Kim Jong-kwan. The meeting focused on the current state and future prospects of trade, economic, and investment cooperation between the two nations.

The ministers discussed expanding collaboration in industrial, construction, and geological sectors. Nagaspayev highlighted the significant scale of existing industrial cooperation.

"The current industrial partnership between our countries includes 46 joint projects with a total investment volume of approximately $3.9 billion," stated Yersain Nagaspayev.

He detailed that these projects cover key areas such as the production of Hyundai and Kia passenger cars, the manufacturing of Hyundai trucks and buses, the construction of a ferroalloy plant in partnership with SAC Co., and the production of home appliances with Samsung Electronics.

The Kazakh minister also emphasized the importance of Korean companies' participation in the Alatau City project. This initiative has been granted a special legal regime designed to create favorable conditions for attracting investments and implementing advanced technologies and modern management standards.

Cooperation in geology was another focal point. Nagaspayev referenced a previous meeting with the leadership of the Korea Institute of Geoscience and Mineral Resources (KIGAM) during the Geoscience & Exploration Central Asia 2026 forum. An agreement was reached there to develop joint initiatives with KIGAM, introduce advanced technologies in subsoil use, and formulate a roadmap for future collaboration.

In response, Minister Kim Jong-kwan acknowledged the high potential for bilateral cooperation. He expressed South Korea's interest in further expanding partnership in industry, infrastructure, and critical resources.

Following the discussions, both sides agreed to continue broadening mutual cooperation. They also addressed preparations for the upcoming 11th session of their Intergovernmental Commission.