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Kassym-Jomart Tokayev participated in the Kazakh-Korean roundtable: 34 agreements signed

Kassym-Jomart Tokayev took part in the Kazakh-Korean roundtable, the press service of Akorda reports.  

Following the summit talks, the Head of State participated in the round table with the largest Korean and Kazakh companies.

In his speech, the President of Kazakhstan briefed the forum participants on the key results of interstate negotiations with President Moon Jae-in, highlighting that South Korea is a very important strategic partner of Kazakhstan.

- The volume of direct investments from your country over the past 15 years has amounted to over $ 6 billion. More than 550 enterprises with Korean capital are successfully operating in Kazakhstan, including leading corporations, such as Samsung, Hyundai, Lotte, Posco, KNOC and others. With their participation, 24 large projects worth almost $2.5 billion have already been implemented. A landmark project is the construction and operation of the Big Almaty Ringway with the participation of the Korean company SK Engineering & Construction, - said Kassym-Jomart Tokayev.

The Head of State outlined the plans to implement 16 promising investment projects worth more than $ 1.5 billion in the sectors, such as automobile production, housing construction, metallurgy and agriculture.

The President highlighted the priority to build the economy based on innovations and new technologies.  

- High-tech industries in the processing industry, as well as the technologies in Industry 4.0 are of strategic concern to us. South Korea is regarded as a worldwide technology leader in the digitalization of the economy and a pioneer in the field of 5G networks, said Kassym-Jomart Tokayev.  

Along with this, the Head of State stressed the availability of modern infrastructure in Kazakhstan for the development of innovative technologies.

- We are interested in setting up joint ventures to produce computer technology, network equipment, data processing centers. Kazakhstan is also working to deploy a 5G network. The first tests were carried out in large cities. I invite Korean companies to take part in the implementation of 5G projects in Kazakhstan, the President said.

Kassym-Jomart Tokayev also called for the use of significant opportunities in the subsoil use, pointing out that only 25% of the territory has been explored geologically in Kazakhstan.

In this context, the Head of State announced that there are five ready-made projects for the extraction of noble and non-ferrous metals and invited Korean companies to jointly develop Kazakhstan's subsoil.

The President of Kazakhstan added that during talks with the South Korean leader, he made a proposal to jointly conduct research on natural resources in our country, following which the priority right to extract resources can be granted to Korean companies.

The presentation also highlighted the priority of the development of alternative and renewable energy in Kazakhstan. The President invited Korean companies to consider investment opportunities in areas such as wind and solar energy.

Furthermore, the President invited the participants of the forum to the joint production of nuclear fuel in Kazakhstan using Korean technologies, as well as to the implementation of projects in the energy waste disposal.

While commending on cooperation with South Korea in the mechanical engineering, Kassym-Jomart Tokayev stressed that thanks to the participation of large Korean companies, the automobile production has become one of the catalysts for economic growth in Kazakhstan. On this basis, the President announced the readiness to expand the model line and deepen the localization of production.

The Head of State highlighted the interest in localizing the production of equipment and spare parts for the oil and gas industry jointly with Korean companies, as well as in deep processing of agricultural products based on new technologies.

Furthermore, Kassym-Jomart Tokayev informed of the potential for the transit of goods from Asia to Europe through Kazakhstan, as well as about the possibilities for diversifying Korean exports, including to the market of the Eurasian Economic Union.

Speaking about the institutional environment for investors, the President urged to use the capabilities of the national company Kazakh Invest, special economic and industrial zones, as well as the Astana International Financial Center.

Concluding his speech, the Head of State called the event an effective practical step in deepening trade and economic cooperation between the two countries.

Kassym-Jomart Tokayev announced the decision to create a special Task Force chaired by Deputy Prime Minister Roman Sklyar to work with Korean entrepreneurs. At the same time, the President emphasized that he would personally monitor the implementation of large institutional and infrastructure projects.

The moderator of the round table was Christopher Koo, Chairman of the Korea International Trade Association KITA. The speakers were the Chairman of Samruk-Kazyna NWF JSC, the Minister of Trade, Industry and Energy of the Republic of Korea, as well as the leadership of Korean companies Samsung Electronics, Doosan Heavy Industries&Construction, Hyundai Engineering & Construction, Dongil Construction, Lotte Confectionery, BC Card, Seegene Medical Foundation, Korea Health Industry Development Institute (KHIDI), Dongkwang Trading Corporation and Kolon World Investment.

The Kazakh side was represented by the officials of the Presidential Administration, members of the Government, the leadership of the AIFC, KazTransGas, Kazakh Invest, Kazakhtelecom, Kaspi.kz and others.

Following the roundtable, 34 agreements were signed worth almost $1.7 billion, including 21 commercial documents and 13 non-commercial ones. The agreements reached on the joint implementation of investment projects provide for the transfer of highly efficient and environmental friendly Korean technologies.

 https://24.kz/ru/news/economyc/item/493207-kazakhsko-korejskij-kruglyj-stol-s-uchastiem-k-tokaeva-podpisano-34-soglasheniya