Kazakhstan, South Korea Seek to Bolster Strategic Partnership

ASTANA – Kazakh President Kassym-Jomart Tokayev and Foreign Minister of South Korea Park Jin agreed to promote strategic partnership between two states during a June 1 meeting in Almaty, reported the Akorda press service.

Kassym-Jomart Tokayev and Park Jin. Photo credit: Akorda

Tokayev noted the dynamics of the Kazakh-Korean trade, investment and technological cooperation, as well as cultural and humanitarian ties.

“We have many opportunities that need to be used in the future. I think that this visit is a good opportunity for a mutual exchange of views on acute international topics,” Tokayev said.

The President praised the production of KIA cars, operation of the Hyundai plant, production of ferroalloys and steel and the Smart Farm project in Kazakhstan.

He mentioned the work of the Kazakh-Korean Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation and the Business Council, addressing the full potential of these structures.

Park confirmed his readiness to deepen partnership with Kazakhstan both on a bilateral and regional basis.

Murat Nurtleu and Park Jin. Photo credit: Foreign Ministry

“We develop close partnerships not only in the traditional field, but also in new industries such as digital technology, healthcare, energy and environmental protection. Active diplomacy between the two countries is the driving force behind the development of bilateral relations,” said Park.

During the meeting with Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu in Astana on May 31, the sides addressed the development of Kazakh-South Korean ties in political, cultural and humanitarian spheres, focusing on the need to increase trade, economic and investment cooperation, according to the ministry’s press service. 

Labor and migration rights were also a key focus of the meeting. Nurtleu highlighted the importance of ensuring the legal employment of Kazakh citizens in South Korea, proposing to include Kazakhstan in the Korean “System of Labor Permits”.

Nurtleu noted that South Korea is one of the country’s key partners in Asia, inviting Korean companies to the Kazakh market.

In turn, Park reaffirmed Korea’s commitment to support Kazakhstan’s economic development based on Korean experience.

In 2022, the trade turnover between two states reached $6.1 billion. The volume of Korean direct investments in the Kazakh economy reached a record of $1.5 billion. Some 740 Korean companies have been registered in Kazakhstan and 28 major projects have been implemented so far.

Following the meeting, the sides signed a memorandum of understanding on bilateral cooperation for 2023-2024. 

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