ASTANA — Kazakhstan and South Korea discussed expanding cooperation in trade, investment, energy, critical minerals, and technology during the 11th meeting of the Kazakh-Korean Joint Commission on Trade, Economic, Scientific, and Technical Cooperation on June 8.
Photo credit: gov.kz
The meeting highlighted the steady growth of bilateral economic ties. Mutual trade reached approximately $3.17 billion in 2025, while direct investment from South Korea to Kazakhstan totaled $8 billion over the past decade, reported Kazinform.
Officials discussed measures to increase bilateral trade, diversify the range of goods traded, expand Kazakh exports to the South Korean market, and remove administrative and regulatory barriers for businesses.
Kazakhstan’s Minister of Industry and Construction Yersain Nagaspayev described President Kassym-Jomart Tokayev’s upcoming visit to South Korea as a key milestone in the development of bilateral relations. He noted that more than 700 companies with South Korean capital currently operate in Kazakhstan and that 46 joint projects worth around $4 billion are at various stages of implementation.
Nagaspayev identified industrial cooperation, energy, transport and logistics, digital technologies, critical minerals, and the development of Alatau City as promising areas for future collaboration.
Cooperation in critical minerals and rare earth metals was also a focus of the meeting. Delegations from both countries also reviewed opportunities for Kazakh companies to participate in the Korea Import Fair 2026 in Seoul. The South Korean officials proposed intensifying work on a comprehensive economic partnership agreement.
Deputy Chairman of Kazakhstan’s Investment Committee Yevgeny Kim presented the Alatau City project as a central component of the country’s new investment policy. More than 50 projects worth over 2 trillion tenge (US$4.1 billion) are currently under consideration within the initiative.
Kazakhstan proposed creating a joint list of priority investment projects and establishing working groups focused on green energy, artificial intelligence, critical minerals, and infrastructure development.
South Korean Minister of Trade, Industry and Energy Kim Jeong-kwan said cooperation between the two countries continues to expand into new areas, including critical minerals, technological innovation, and the development of new urban centers.
Energy and nuclear cooperation
Energy and nuclear cooperation were also high on the agenda. Kazakhstan expressed interest in South Korea’s experience in nuclear energy development, including the deployment of small modular reactors (SMRs), workforce training, and scientific and technical cooperation. The countries are also working on a memorandum of understanding in the nuclear sector.
Kazakhstan’s Deputy Energy Minister Sanzhar Zharkeshov said energy remains a cornerstone of bilateral relations. He noted that Kazakhstan is interested in attracting South Korean investment and technologies to develop its petrochemical industry and increase the production of high-value-added goods.
South Korean companies were also invited to participate in projects to modernize existing power facilities and construct new generation capacity under Kazakhstan’s Electric Power Industry Development Plan through 2035.
