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Tuesday July 23 2024

Kazakhstan reveals number of joint investment projects with South Korea

17 June 2024 20:12 (UTC+04:00)
Kazakhstan reveals number of joint investment projects with South Korea

Kazakhstan and South Korea are hitting the ground running with 52 investment projects that are worth a whopping $5.2 billion, Azernews reports.

According to the Kazakh Foreign Ministry, up until now, they have already put into action 30 projects, which add up to a whopping $3.4 billion between the two countries.

Simultaneously, ten projects totaling $2 billion are being carried out by Kazakhstan and South Korea, while twelve initiatives with a potential value of $165 million are being considered.

More than 700 companies with South Korean capital are successfully operating in Kazakhstan, including such large corporations as Hyundai, KIA, Samsung, LG, Lotte, Posco, Shinhan, etc., whose projects cover various fields, including energy, metallurgy, automotive, transport infrastructure, and IT.

Meanwhile, South Korea is among the top 5 major investor countries in the economy of Kazakhstan and is one of the three Asian countries with which an expanded strategic partnership has been established.

Over the past 18 years, the gross inflow of direct investments from South Korea into the economy of Kazakhstan amounted to about $9.6 billion, and by the end of 2023, it had amounted to $1.2 billion.

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