ASTANA, Kazakhstan, June 12. There are over 700 joint ventures in Kazakhstan with South Korean capital involvement at the moment, said President of Kazakhstan Kassym-Jomart Tokayev, Trend reports.
"Today, the bilateral trade between Kazakhstan and South Korea has reached $6 billion. It's undoubtedly a result of our combined efforts. We've executed extensive economic projects, and our investment collaboration expands annually," President Tokayev said, as he met with his South Korean counterpart Yoon Suk Yeol in Astana.
In turn, Yoon Suk Yeol pointed out that South Korea aims to broaden cooperation with Kazakhstan in promising sectors such as critical raw material extraction, nuclear energy, and renewable energy sources.
"Numerous Korean companies are investing in Kazakhstan, aiding in job creation and industrial growth. Moreover, they're actively involved in modernizing Kazakhstan's national infrastructure through projects like the construction of the Big Almaty Ring Road (BARR) and a combined-cycle power plant," the president added.
Meanwhile, President Yoon Suk Yeol embarked on his trip to Central Asia on June 10.
As part of this visit, South Korea intends to convene a six-party summit with Central Asian nations next year, including Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan, and Kyrgyzstan, with the initial round of meetings to be hosted in South Korea.