South Korean company intends to build a biopharmaceutical plant in Astana
At the end of the bilateral talks, the Head of State and the President of the Republic of Korea made a joint statement to the media, El.kz reports citing Akorda.
Kassym-Jomart Tokayev expressed sincere gratitude to President Yoon Suk-Yeol for accepting the invitation to visit our country. The leader of Kazakhstan also said that there is every reason to consider today a significant day in the history of Kazakh-Korean friendship.
The Head of our State stressed that the countries pay special attention to the development of trade, economic and investment ties. Today, Korea is one of the five largest investors in Kazakhstan.
"For the period up to last year, the volume of investments from this country reached $9.6 billion. Both sides expressed interest in increasing this indicator. More than 700 companies with Korean capital operate in Kazakhstan. Among them are such large corporations as Samsung, Hyundai, Kia, Lotte, Doosan, Posco, which are successfully operating in our country.
We agreed to strengthen our comprehensive cooperation, primarily in such areas as infrastructure and production development, finance, energy, the environment, the automotive and aerospace industries, IT, and digitalisation. Currently, Doosan Enerbility is building a power plant in Turkestan based on a combined cycle plant. Samsung Electronics plans to start manufacturing household appliances in our country. We fully support this initiative. GL Ralpha intends to build a biopharmaceutical plant in Astana, the President said.
During the talks, the issue of joint exploration and production of rare earth metals was also considered. Kassym-Jomart Tokayev confirmed his belief readiness to create favorable conditions for Korean companies wishing to enter the Kazakh market. In his opinion, specific mechanisms have been created for the implementation of such plans. A working group has been formed to develop interaction between the intergovernmental commission, the Business Council and the business community.
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