Kazakh President, South Korean Business Leaders Explore Cooperation Prospects 

ASTANA—Kazakh President Kassym-Jomart Tokayev held several bilateral meetings with Korean business leaders on the sidelines of the June 12 Kazakh-South Korean business forum, reported the Akorda press service. 

The Head of State received the Chairman of the Doosan Group, Jeong Won Park. Photo credit: Akorda

Kazakh President welcomes BNK financial group’s expansion

During the meeting with BNK Financial Group Chairman and CEO Dae-In Bin, Tokayev welcomed the company’s intention to transform the controlled microfinance organization BNK Finance Kazakhstan into a full-fledged second-tier bank. 

According to the President, a leading South Korean bank in Kazakhstan will help strengthen trade and investment cooperation between the two countries. 

Kassym-Jomart Tokayev held a meeting with the Chairman of the Board of Directors of BANK Financial Group abd CEO Dae-In Bin. Photo credit: Akorda

He also emphasized the importance of using advanced IT solutions in the banking sector.

BNK Financial Group Inc. is a South Korean company that includes Busan Bank, Kyongnam Bank, BNK Capital, and others. The group’s assets total $129 billion, and its net income is $504 million. The group is included in the Forbes Global 2000 list of the world’s largest companies.

Doosan Group’s power projects and humanitarian efforts recognized

At the meeting with the Chairman of Doosan Group Park Jeong-won and Vice Chairman of Doosan Enerbility Yeonin Jung, the President expressed gratitude to the Korean company for its assistance with the floods in Kazakhstan. 

Korean business leaders spoke about the progress of the project for the construction of one gigawatt (GW) combined cycle power plant in the Turkistan Region, as well as prospects for the company’s participation in the expansion of the Karabatan gas turbine power plant in the Atyrau Region.

At a meeting with Jeong Won Park, Kassym-Jomart Tokayev was informed about the progress of the project for the construction of a 1 GW combined-cycle power plant in Turkestan region, as well as about the prospects for the company’s participation in the expansion of the Karabatan gas turbine power plant in Atyrau region. Photo credit: Akorda

Doosan Enerbility, part of the Doosan Group, specializes in constructing nuclear power plants, producing thermal power plants, turbines and generators, and desalination plants. The company employs more than 5,000 people and had sales of $17.5 billion in 2023.

Exploring new horizons in mining and environmental solutions

Tokayev also met with the President of the Korean Institute of Geoscience and Mineral Resources (KIGAM) Pyeong-Koo Lee and SK Ecoplant Vice President Hansol Baek to discuss prospects for cooperation between Kazakhstan and South Korea in the geological exploration and mining industries.

Tokayev learned about the KIGAM’s exploration work at the Bakennoye lithium deposit in the East Kazakhstan Region.

Noting the importance of establishing lithium mining and further processing and producing high-end products, the President proposed considering the possibility of cooperation according to the pragmatic formula of “investment and technology in exchange for raw materials.”

The President highly appreciated the innovative approach of SK Ecoplant in the field of waste management and water purification. In his opinion, Korean companies can take part in the implementation of joint waste disposal projects.

Hansol Baek told Tokayev about the company’s achievements in green hydrogen production.

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