Kazakhstan and South Korea Aim to Boost Business Projects and Job Creation
Almaty, The Gulf Observer: In a significant move to bolster international relations, Almaty Mayor Marat Sultangaziyev met with the Consul General of the Republic of Korea in Almaty. The meeting focused on strengthening and widening cooperation between the Almaty region and South Korea, as well as exploring prospects for developing business projects and creating new jobs, according to reports from the Almaty region akimat.
During the meeting, Mayor Sultangaziyev emphasized the strong and friendly partnership relations that have been established between the two countries. He highlighted the robust trade and economic cooperation, noting that South Korea is one of the top foreign investors in Kazakhstan. A notable investment project discussed was the construction of a tobacco products production plant in the Almaty region, which involves a total investment of over 80 billion tenge and is expected to create more than 100 new jobs.
The Consul General of the Republic of Korea in Almaty underscored the importance of business partnership development and highlighted additional areas for bilateral cooperation. He expressed optimism about the future of the economic ties between the two regions.
Trade between Kazakhstan and South Korea reached 6 billion US dollars in 2023, with the Almaty region contributing 112 million US dollars to this total. This includes 70 million US dollars in exports and 42 million US dollars in imports. Currently, there are 15 companies operating in the Almaty region that involve South Korean capital, further signifying the strong economic ties between the two regions.
This meeting marks a positive step towards further enhancing the economic and business relations between Almaty and South Korea, promising new opportunities for investment and job creation in the region.
