Kazakhstan and South Korea are ramping up cooperation with a focus on significant investment and industrial projects ahead of the first South Korea–Central Asia Summit scheduled for September 16 in Seoul. Notably, 67 initiatives valued at $6.9 billion are underway in Alatau City, alongside 51 joint industrial projects.
President Kassym-Jomart Tokayev is actively engaging with top Korean businesses, discussing diverse sectors including automotive manufacturing, energy, artificial intelligence, and space technologies. The Lotte Group, for instance, plans to expand its activities in logistics and hospitality while investing in Alatau City’s development, including a new hotel project.
The infrastructure and energy framework of Alatau City is also being established with organizations such as Korea Electric Power Corporation (KEPCO), focusing on power infrastructure development and exploring a collaboration on a gas-fired power plant transitioning to hydrogen.
In the tech domain, collaboration with Hanwha Group aims to foster an artificial intelligence ecosystem in Kazakhstan, while CONTEC Space Group is exploring investment in satellite production and ground stations.
Hyundai is eyeing greater localization in automotive production, engaging in agreements to bolster their manufacturing presence in Kazakhstan. Tokayev’s discussions with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) highlight potential collaboration in modernizing Kazakhstan’s infrastructure.
These initiatives represent a strategic partnership moving towards enhancing technological and economic ties between the two nations, reflecting a shared vision for growth and development as they prepare for the upcoming summit.
