Kazakhstan and Korea to implement 40 projects worth $7 billion

AKIPRESS.COM - Kazakhstan and South Korea plan to implement projects worth about $7 billion, Kazakh TV reported.
The projects were signed in April this year during the state visit of President of South Korea Moon Jae-In to Kazakhstan. The programs include cooperation in 10 industries as well as implementation of 58 projects.
According to Ambassador of the Republic of Korea in Kazakhstan, Kim Dae-Sik, the agreements include development of information and communication technologies, digitalization and cooperation on the Fourth Industrial Revolution. they also include improvement of transport and logistics centers as well as infrastructure, development of oil and gas sectors, mining, construction and tourism.
The current package of Kazakhstan and Korean industrial and innovative projects is worth about $7 billion. 19 projects worth $2 billion have been implemented while six projects are currently being executed. The work package includes the participation of Korean company in the construction of the Big Almaty Ring Road. A joint car assembly plant will also be opened in the future.
Korea invested $4 billion into the Kazakh economy. "In the first half of this year, we reached 90 percent of the figure. The trade turnover has reached $2 billion. By the end of the year, the figure is expected to double," Ambassador, Kim said.
Kazakhstan exports oil, uranium, copper and steel to South Korea and imports electronics, equipment and cars from the country of Morning Freshness.
Currently, there are more than 500 enterprises with participation of Korean capital operating in Kazakhstan.