Seminar “Investments and the future of cooperation between Korea and Kazakhstan
On November 29, 2024, the Korean Foreign Trade Association (KITA, Chairman Yun Jin Sik) held a seminar on “Investments and promising cooperation with Kazakhstan” jointly with the Government of the Turkestan region of Kazakhstan. The event was held at the Trade Tower, located in the district of Samseong-dong, Gangnam-gu, Seoul.
Turkestan region is located in the south of Kazakhstan, bordering Uzbekistan and Kyrgyzstan, being the key gateway to Central Asia. In June of this year, the Korea Foreign Trade Association signed a memorandum of understanding with the Government of the Turkestan region within the framework of a state visit to strengthen private economic cooperation.
The seminar was attended by: Chairman of the Korean Foreign Trade Association Yun Jin Sik, Ambassador of Kazakhstan to the Republic of Korea Nurgali Arystanov, Deputy Akim of Turkestan region Nuralkhan Kuserov, Honorary Consul of Kazakhstan in Ulsan Lee Sang Hoon (head of Dongkwang Trading Co.), as well as representatives of 50 companies interested in entering the Kazakh market. In total, the event gathered more than 60 participants.
The seminar consisted of two sessions where the investment climate of Kazakhstan and the Turkestan region, promising areas of cooperation, as well as successful market entry cases were discussed.
Within the framework of the event, numerous memoranda of understanding (MOU) were signed between Korean companies, the government of the Turkestan region and local enterprises. Thus, the Central Asian Innovation University, Malgeun Soft and BLE Korea have agreed to expand cooperation in the field of education for personnel training in Kazakhstan. The government of the Turkestan region and the South Korean idol group SKYE have reached an agreement on the promotion of Korean culture and products.
Yun Jin Sik, Chairman of the Korean Foreign Trade Association, said: “In June, I personally visited Kazakhstan, Korea’s largest trade and investment partner in Central Asia, and was convinced of its enormous potential. I hope that today’s event will be a significant step not only for economic cooperation, but also for deepening cultural ties and mutual understanding between our countries.”