The capstone of President Kassym-Jomart Tokayev's working visit to New York was a pivotal meeting with the President of the Republic of Korea, Yoon Suk Yeol. The high-level discussions revolved around the promising avenues for the continued growth of the strategic partnership between Kazakhstan and South Korea.
During the meeting, President Tokayev warmly acknowledged the burgeoning camaraderie between the two nations. He underscored the significance of the dynamic economic ties that have solidified this relationship. Kassym-Jomart Tokayev further emphasized the emergence of amicable ties between Kazakhstan and South Korea, highlighting the significant importance placed on the rapid growth of their economic connections.
Key among the economic indicators cited was the bilateral trade turnover, which has demonstrated robust expansion, exceeding an impressive $6 bn in 2022. Equally noteworthy is the substantial investment of Korean companies in Kazakhstan's economy, exceeding a staggering $8 bn. This has firmly entrenched South Korea as one of the top 10 major investors in the Central Asian nation.
President Tokayev highlighted the substantial presence of over 700 Korean companies and joint ventures operating in Kazakhstan. Notable multinational corporations such as KIA, Hyundai, Samsung, LG, and others have actively contributed to Kazakhstan's economic landscape.
Moreover, during the meeting, President Tokayev outlined promising areas of economic cooperation. The discussions particularly delved into the mining of rare earth metals, a sector that holds significant potential for both nations. Additionally, the development of nuclear energy emerged as another focal point, underlining Kazakhstan's growing role as a player in the nuclear energy sector.
In response, President Yoon Suk Yeol expressed South Korea's unwavering commitment to deepening its mutually beneficial cooperation with Kazakhstan. Korean companies, he noted, are keenly interested in expanding existing projects and exploring new ventures in key sectors such as mechanical engineering, mining, and nuclear power. This emphasis on collaboration underscores the shared vision of progress and prosperity between the two nations.
As the meeting concluded, it became evident that the Kazakh-Korean strategic partnership is poised for a promising future, with both leaders reaffirming their dedication to enhancing economic cooperation and strengthening their bilateral ties. The productive discussions between President Tokayev and President Yoon Suk Yeol signal a new chapter in the flourishing relationship between Kazakhstan and the Republic of Korea.
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