OMM Redaksiyası
Kazakhstan and South Korea have agreed to elevate relations to the level of a comprehensive strategic partnership. Kazakh President Kassym-Jomart Tokayev made the announcement during talks with South Korean President Lee Jae-myung in Seoul on September 15.
The new partnership will focus not only on increasing trade but also on expanding joint production and investment. The sides discussed projects worth approximately $19 billion in various sectors, including energy, critical minerals and infrastructure.
Several agreements covering gas processing, the oil and gas sector, critical minerals and infrastructure were signed at the conclusion of a Kazakhstan-South Korea business roundtable in Seoul. The two countries are currently implementing 51 joint projects with a total value of more than $4 billion.
The main areas of cooperation include automobile manufacturing, mechanical engineering and metallurgy. Kazakhstan produced approximately 170,000 vehicles last year. Astana plans to increase local component production and gradually transition to a full production cycle.
The Kazakh president noted that South Korean companies have been operating in the country for nearly 30 years.
Kazakhstan and South Korea have developed economic ties across energy, manufacturing, transport and technology. The planned comprehensive strategic partnership is expected to provide a broader framework for investment and industrial cooperation between the two countries.
