BAKU, Azerbaijan, April 14. Trade turnover between Kazakhstan and South Korea exceeded $6 billion, while foreign direct investments (FDI) inflow from South Korea amounted to $1.5 billion in 2022, Trend reports, citing the press service of the Prime Minister of Kazakhstan.
Deputy Prime Minister of Kazakhstan Roman Sklyar and Minister of Trade, Industry, and Energy of South Korea Lee Chang-yang discussed the opportunities for further cooperation between the nations during the meeting, which took place in Seoul. The sides reinforced their commitment to continue fostering the development of mutually beneficial relations between the countries.
After the negotiations between the government officials concluded, meetings with Korean business leaders took place, which included representatives of top Korean companies such as KIA, Doosan, SsangYong, Samsung, and others.
An agreement on cooperation between Kazakhstan and KIA was signed between Sklyar and the CEO of Korean carmaker Ho-sung Song. The agreement entails joint work on the capacity building of Kazakh engineers, and the development of the automotive industry in Kazakhstan.
Earlier, agreements were reached between Astana Motors and two Korean companies, which would localize the production of seats and multimedia systems for Hyundai cars in Kazakhstan.