Tokayev proposes establishing Kazakh-Korean joint company for critical minerals
President Kassym-Jomart Tokayev has called on South Korea to strengthen the partnership in critical minerals and create a joint Kazakh-Korean company. He said this today at the First Central Asia - South Korea Summit in Seoul, Qazinform News Agency reports, citing the Akorda press service.
Tokayev said that Kazakhstan possesses a significant resource base and is among the world leaders in rare earth element reserves. Notably, Kazakhstan's mineral resource base includes all 10 minerals Korea classifies as strategic.
He emphasized that combining Kazakhstan’s resource potential with Korea’s technological capabilities opens up broad prospects for mutually beneficial cooperation.
He said that he welcomed the agreement reached during the current visit to establish in Almaty a joint Centre for Rare and Rare Earth Metals with the participation of the Korea Institute of Industrial Technology.
"Our goal should be to build a full production cycle – from research and extraction of critical raw materials to deep processing and the production of high-value-added goods. This includes semiconductors, microelectronics, batteries, electric vehicle components and robotics. To implement this task, we propose establishing a joint Kazakh-Korean company,” the Kazakh President said.
Kassym-Jomart Tokayev also addressed issues of water security and preserving the region’s environmental balance.
According to him, by 2030, Kazakhstan plans to build 42 new reservoirs, modernize 14,500 kilometres of irrigation canals and significantly expand the use of water-saving technologies.
"Climate change, water scarcity and the degradation of natural ecosystems are already affecting the socio-economic development of Central Asia. Therefore, Kazakhstan highly values Korea’s readiness to share its advanced technologies and practical experience in this important and sensitive area for us. In particular, I see considerable potential in launching a joint program to introduce Korean water-saving technologies, digital water accounting and modern water-saving infrastructure,” Tokayev noted.
Earlier, addressing the summit, President Kassym-Jomart Tokayev said Kazakhstan aims to increase total transit volumes through its territory to 100 million tons.
