Kassym-Jomart Tokayev says South Korea among Kazakhstan’s largest trade and investment partners

Addressing representatives of the business communities of Kazakhstan and South Korea, Tokayev said Astana and Seoul have built strong relations over the past three decades based on mutual respect, trust and sincere friendship.

According to the president, active political dialogue and a shared vision for deepening multifaceted cooperation provide a solid foundation for the partnership.

Today, Korea is among Kazakhstan’s largest trade and investment partners. We highly value the productive presence of major Korean companies and will continue to strengthen this positive trend. I always say that Korean businesspeople, who are among the most determined and courageous leaders in investment, stand out for their high level of integrity and respectful attitude toward Kazakhstan, said Tokayev.

The Kazakh president noted that bilateral trade turnover exceeded 3 billion US dollars last year. He said the figure could be doubled through joint efforts by the governments and companies of the two countries.

Total foreign direct investment from Korea into Kazakhstan has exceeded 12 billion US dollars. More than 1,000 companies with Korean capital operate in our country, including Samsung, Kia, Hyundai, Lotte, Doosan Enerbility and Shinhan Bank, said President Tokayev.

He stressed Kazakhstan’s determination to bring bilateral cooperation to a qualitatively new level and further strengthen the ties of friendship and partnership between the two countries.

This visit provides a good opportunity to consolidate the progress achieved and give new impetus to bilateral cooperation, said the president.

Earlier, Qazinform reported President Kassym-Jomart Tokayev had proposed doubling bilateral trade turnover between Kazakhstan and South Korea and expanding cooperation in trade, investment and industrial development.