Kyrgyzstan and South Korea: Prospects for bilateral cooperation

Since gaining its independence by Kyrgyzstan and the establishment of diplomatic relations in 1992, Kyrgyz-Korean relations can be described as fairly stable. At the same time, Kyrgyzstan considers South Korea as a major independent economic power with a growing potential for political influence in international affairs.
Today, it is obvious that the further development of Kyrgyz-Korean relations will contribute to becoming Kyrgyzstan as a full partner in the world community. In addition, the prospective improvement of relations between Kyrgyzstan and South Korea is necessary to solve more specific and urgent tasks: the effective use of scientific and technical potential, mutually beneficial cooperation in the sphere of economy, agriculture and tourism.
Political observer Yegor Podgorny said that a country like Kyrgyzstan has tremendous prospects for developing bilateral relations with many countries of the world.
"The republic is rich in human resources, tourism potential, not to mention the possibility of investing and developing many sectors of the economy. South Korea is one of those countries with which not only contacts are possible, but also real work in the investment direction. In particular, in addition to the development of tourism, South Korea can and should work in terms of the development of electronic technologies, digitalization, open joint ventures, or plants for assembling components of smartphones. Therefore, I am convinced that the South Korean direction of development of relations has always been and is one of the most attractive."
South Korean politicians and businessmen explain the active development of relations of the Republic of Korea with Kyrgyzstan, above all, with political stability, an investment climate favorable for foreign capital, and no contradictions between the center and economic entities. Also an important factor determining the increased interest of South Korea is the presence of a rather large and influential diaspora of ethnic Koreans in Kyrgyzstan.
South Korean political representations and economic organizations quite successfully attract Korean citizens of these states to work in their structures, interact with associations, associations, fraternities of local Koreans.
Trade and economic cooperation between Kyrgyzstan and the Republic of Korea is also one of the most important aspects of the beneficial relations between the two countries. Now mainly the goods of electronic and chemical industries, textiles and some types of agricultural products are exported to South Korea. At the same time, the Korean side is interested in increasing exports of agricultural products. But in order to improve mutually beneficial trade, it is necessary to debug the mechanism for applying anti-dumping and countervailing duties and protective measures as soon as possible, as well as to streamline the importation of goods that are not taxed, supplied as part of the so-called unorganized trade.
"In terms of trade relations, there are also great prospects, as well as untapped potential. South Korea needs high-quality agricultural products, and our country is an agrarian republic. Fruits, vegetables, grains, meat and dairy products can be of great interest to the Korean market, and we will get another direction for the sale of high-quality, and most importantly environmentally-friendly products," the expert said.
Among the main measures in the field of foreign trade of Kyrgyzstan and Korea, it is necessary to highlight the export development programs and the development of a system of crediting and export insurance, developing a procedure for introducing protective measures that comply with WTO rules and regulations, reducing export contracts and currency controls and introducing on this basis unified system of foreign trade and currency control and accounting. At the same time, it is already becoming clear that the above points of the program do not at all ensure the implementation of the whole complex of tasks facing foreign economic relations at the present stage. They only outline the main paths to the beginning of the movement. Specific mechanisms are only being indicated.
"In case of their optimal development, the foreign economic sphere can become a real, significant factor in rebuilding Kyrgyz-Korean relations, restoring and increasing production potential," the expert noted.
At the same time, Kyrgyzstan is a promising market for goods produced by Korean companies, for example, plastics, automotive and electronics products, and much more. Also, South Korean business circles are interested in the tourism industry of Kyrgyzstan, which could be one of the important areas of mutually beneficial cooperation. For a country with a high population density, tourism is an important means of recreation and a promising area of ​​cooperation for the states.
In general, today Kyrgyzstan and the Republic of Korea are quite active in their contacts and South Korea considers Kyrgyzstan an equal partner in the field of trade and economic relations, which is of considerable interest to Korean business from a strategic perspective. It should be also noted that, despite the fact that Kyrgyzstan has become an object of economic interest of the South Korean state, primarily due to trade and economic interests and incentives, it cannot be excluded that the leadership of the Republic of Korea strives to acquire sources of influence on foreign policy of Kyrgyzstan, competing in this with other states.
In the continuation of the topic, it is worth adding that President of Kyrgyzstan Sooronbay Jeenbekov held a meeting with Prime Minister of the Republic of Korea Lee Nak-yon, who was in the Kyrgyz Republic for an official visit.
The main topic of the meeting was the discussion of prospects for bilateral cooperation between the countries.
"This is the first high-level visit from the Republic of Korea over the past 28 years, since the establishment of diplomatic relations between our countries. I am confident that your visit will help strengthen friendship and enhance the interaction of countries," said President Sooronbay Jeenbekov.
He noted with satisfaction that the Kyrgyz-Korean business forum in Bishkek held within the framework of the South Korean’s prime minister will give its positive results in the future.
President Sooronbay Jeenbekov stressed that the numerous Korean diaspora in Kyrgyzstan contributes to the deepening of cooperation with Korea. Its representatives are public figures, major entrepreneurs and intellectuals who contribute to the development of the national economy.
Also, Sooronbay Jeenbekov expressed gratitude to the Korean side for the assistance in the implementation of socio-economic projects in the country and noted the positive activities of the Korean International Cooperation Agency (KOICA) in Kyrgyzstan. The amount of grant aid provided by Korea over the years to date is USD 42 million.
Korean Prime Minister Lee Nak-yon also noted that he is the first Prime Minister of Korea, who arrived for an official visit to Kyrgyzstan during the years of establishing diplomatic relations between the countries.
"This visit is belated, but we will make maximum efforts to accelerate the development of bilateral relations. We respect the wisdom of the leadership of Kyrgyzstan, thanks to which democratic processes are developing steadily in the country, new markets are opening up, and the economy is growing," Lee Nak-yon said.
The Korean prime minister stressed that KOICA’s assistance is modest, but the Korean side is always happy to assist Kyrgyzstan. He expressed readiness for further assistance in the implementation of other projects and spoke about plans to provide assistance to Kyrgyzstan in the fields of education, administration and development of agricultural technologies in the near future in the amount of about USD 7 million.
Lee Nak-yon expressed hope for expanding contacts and cooperation not only at the government level, but also between business structures, which will create conditions for attracting direct investments.
The issues of cooperation in the areas of digitalization, education, tourism, enhancing trade and economic ties were also discussed at the meeting.
Kabar News Agency