BAKU, Azerbaijan, September 15. Kazakhstan and South Korea have signed around 80 agreements worth approximately $19 billion under the Kazakhstan-Korea Business Council, according to Samruk-Kazyna.
Agreements involving Samruk-Kazyna Group and South Korean partners account for around $11 billion.
During a meeting between Kazakh President Kassym-Jomart Tokayev and Hyundai, QazaqGaz and Hyundai Engineering signed an agreement on the implementation of a project to build a gas processing plant with an annual capacity of 5 billion cubic meters based on feedstock from the Karachaganak field.
The following agreements were also signed in the presence of the co-chairs of the Kazakhstan-Korea Business Council during the Kazakhstan-Korea business roundtable:
an agreement between KazMunayGas and Samsung E&A on the expansion of the Pavlodar Petrochemical Plant's capacity to 9 million tons per year;
an agreement on opening a credit line between PГУ Turkestan and the Development Bank of Kazakhstan, with the participation of Doosan Enerbility, for the construction of a 1,000-MW combined-cycle power plant in the Turkestan region;
a framework agreement on joint research between Tau-Ken Samruk, Ognevsky GOK and the Korea Institute of Geoscience and Mineral Resources (KIGAM). The document provides for joint drilling at the Bakennoye lithium deposit to confirm its potential and facilitate further development;
a memorandum on strategic technical cooperation in rare earth element processing between Tau-Ken Samruk and POSCO Holdings. The parties intend to develop cooperation in technologies for processing, separation and refining of rare earth materials, as well as the production of high-value-added products.
On September 13, President of Kazakhstan Kassym-Jomart Tokayev arrived in the Republic of Korea on a state visit at the invitation of President Lee Jae Myung. He will also participate in the first Korea-Central Asia Summit.
