President of South Korea and Kazakh PM Discuss Strengthening Bilateral Cooperation

Astana, The Gulf Observer: During his visit to Kazakhstan, President of South Korea Yoon Suk Yeol met with Kazakh Prime Minister Olzhas Bektenov to discuss the further development of agreements signed following the recent summit between President of Kazakhstan Kassym-Jomart Tokayev and President Yoon Suk Yeol. The discussions, as reported by the Kazinform News Agency via the Government’s press service, centered on expanding trade and economic cooperation and enhancing industrial, energy, and aviation partnerships.

Prime Minister Bektenov highlighted Kazakhstan’s optimistic outlook on developing its trade and economic partnership with South Korea. He announced the Government’s readiness to implement all high-level agreements to ensure the dynamic development of bilateral cooperation.

Kazakhstan is particularly interested in joint projects in various promising sectors, including energy, the development and processing of rare-earth metals, infrastructure, automobile manufacturing, and the efficient use of water resources. The Prime Minister emphasized that developing the processing industry is a priority for diversifying Kazakhstan’s national economy. He noted significant South Korean investment in Kazakhstan’s machine-building sector and the establishment of automobile clusters within the country.

Notable developments include the Hyundai CKD assembly in Almaty and the KIA manufacturing facility in the Kostanay region. Additionally, South Korea will soon commence production of motorcar seats and multimedia systems for automobiles in Kazakhstan.

The Kazakh Prime Minister also expressed the country’s interest in producing car batteries for electric vehicles using South Korean technologies, further strengthening cooperation in the automobile industry. These initiatives underscore the commitment of both nations to fostering robust economic ties and leveraging each other’s technological advancements for mutual benefit.