Kazakhstan, S. Korea’s KIND seal deals on Alatau smart city and infrastructure cooperation
President Kassym-Jomart Tokayev held talks with Kim Bok-hwan, president and CEO of the Korea Overseas Infrastructure & Urban Development Corporation (KIND), to discuss expanding investment cooperation and KIND’s potential involvement in major infrastructure projects in Kazakhstan, Qazinform News Agency reports via Akorda.
During the talks, Tokayev highlighted KIND’s important role in strengthening Kazakhstan-Korea investment cooperation and noted Kazakhstan’s interest in continuing its partnership with the corporation, which participated in the implementation of the Big Almaty Ring Road (BAKAD) project.
The meeting focused on KIND’s potential participation in the development of Alatau City. Tokayev emphasized the project’s significant potential and expressed hope for active involvement by Korean partners in infrastructure and investment initiatives in the new city.
The president also called on KIND to participate in Kazakhstan’s large-scale plans to modernize social and transport infrastructure.
Kim Bok-hwan, in turn, highlighted Kazakhstan’s role as a key transport and logistics hub in Eurasia and expressed readiness to contribute to strengthening economic cooperation between the two countries.
The sides also discussed establishing a Kazakhstan-Korea joint investment fund aimed at attracting Korean capital and technologies to infrastructure and energy projects in Kazakhstan.
Particular attention was given to KIND’s possible participation in modernizing the country’s transport and logistics system, including the development of the ports of Aktau and Kuryk, as well as projects to construct and renovate regional airports.
Following the meeting, the sides exchanged documents, including a memorandum of understanding between Caspian Group and KIND, an agreement between Alatau City Authority and KIND on developing a master plan for the Alatau Smart City project, and a strategic agreement between Qazaqstan Investment Corporation and KIND.
Earlier, Qazinform reported Kazakhstan and Hyundai had signed agreements on the construction of a gas processing plant and the production of Hyundai Tucson vehicles. A memorandum of understanding on the construction of Lotte hotels in Almaty and Alatau City was also signed by Hotel Lotte Co. Ltd and Sensata Invest.
