Kazakhstan eyes establishment of auto component cluster with Korean companies
Kazakhstan and South Korea have built up a solid foundation for mutually beneficial cooperation in the automotive industry, Kassym-Jomart Tokayev stated, Kazinform News Agency correspondent reports.
A solid foundation for mutually beneficial cooperation in the automotive industry has been built up. Hyundai cars are being assembled in Kazakhstan. Next year, Kia’s full-cycle plant with a total investment of 200 million US dollars is to be launched, said Tokayev during the Kazakhstan-Korea Business Forum in Astana.
The Head of State highlighted that Kia is investing for the first time in construction of a plant overseas.
It’s worth to note that the company for the first time in its history invested in the construction of a plant beyond South Korea, choosing Kazakhstan. It’s encouraging that a number of South Korean companies Sejong, EHWA, Yongsan, Motrex are to move to the next stage of development of the automobile industry and to create an auto component cluster in Kazakhstan, added the Kazakh leader.
Earlier the Kazakh industry and construction ministry informed that South Korea is to launch production of car seats and grain cars in Kazakhstan.
To note, upon the invitation of Kassym-Jomart Tokayev, President of South Korea Yoon Suk Yeol is paying a state visit to Kazakhstan on June 11-13, 2024. Earlier, the two heads of state held negotiations.
