ASTANA, Kazakhstan, October 24. Today, five South Korean projects in Kazakhstan worth $1.5 billion are at the implementation stage, said Prime Minister of Kazakhstan Alikhan Smailov during a meeting with the Minister of Trade of South Korea Ahn Duk-geun, Trend reports.
As he noted, another 25 promising projects worth about $500 million are also being developed.
"As an eye-catching example, in the city of Kostanay, a new huge KIA plant with an investment of $190 million and a production capacity of 70,000 cars per year is being built," he said.
According to the PM, there are currently more than 700 Korean enterprises operating in the Republic of Kazakhstan, the largest of which are KIA, Hyundai, Samsung and LG.
He added that the government of Kazakhstan will continue to create all the necessary conditions for comfortable work for investors in the republic.
Trade turnover between Kazakhstan and Korea in 2022 amounted to $6 billion. Korean firms have invested about $8 billion in Kazakhstan's economy. South Korea is thus one of Kazakhstan's top ten significant investors.
Today, more than 700 Korean companies and joint ventures operate in Kazakhstan.
