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    Economics Kazakhstan

    Kazakhstan and South Korea strengthen ties with $5bn investment in 52 projects

    Kazakhstan and South Korea strengthen ties with $5bn investment in 52 projects

    Kazakhstan and South Korea are advancing their economic partnership with 52 investment projects totalling over $5bn, the Kazakh Foreign Ministry reports. To date, 30 projects have been completed, amounting to $3.4bn in joint investments between the two countries. Additionally, ten projects worth $2bn are underway, and twelve prospective projects valued at $165mn are being evaluated.

    Photo: Kazakhstan and South Korea
    Source: Google Images

    Over 700 companies with South Korean investment are operating in Kazakhstan. Notable corporations such as Hyundai, KIA, Samsung, LG, Lotte, Posco, and Shinhan have initiated projects in various sectors, including energy, metallurgy, automotive, transport infrastructure, and IT.

    South Korea is among the top five major investors in Kazakhstan's economy and is one of the three Asian countries with an expanded strategic partnership with Kazakhstan. Over the past 18 years, South Korea invested around $10bn in Kazakhstan, with more than $1bn invested by the end of 2023.

    Earlier, Daryo reported that the bilateral trade volume between Uzbekistan and Korea reached $2.5bn in 2023, accompanied by Korean investments exceeding $7.5bn. 

    President Shavkat Mirziyoyev of Uzbekistan and President Yoon Suk Yeol of South Korea reinforced their nations' enduring strategic partnership at the Koksaroy residence on June 14. 

     

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    17.06.2024, 08:40   Comments (0)   2012
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    On this topic

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    14.06.2024, 13:31

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