South Korean businessmen are interested in investing in Kazakhstan
South Korean businessmen are interested in investing in Kazakhstan. Logistics, high technologies and agriculture are among the priority investment sectors. In Seoul, South Korea’s largest logistics corporation management signed a memorandum with Kazakhstan’s railway company. The parties agreed on joint use Kazakhstan’s terminal in the Chinese port of Lianyungang.
LI YONG HO, LOGISTICS CORPORATION SPOKESPERSON:
- Our company ships about 100 containers from South Korea through Kazakhstan’s terminal in the Chinese port of Lianyungang. These are electronics, refrigerators, washing machines and containers. Urgency is very important for these companies. That’s why they ship their goods not by sea, but by railroad.
South Korean companies are interested not only in Kazakhstan’s transit potential, but in other areas as well.
AHN JAE-HYUN, CORPORATION PRESIDENT:
- We are currently involved in the construction of the Big Almaty Ring Road, but our main scope of activities is petrochemicals, oil, gas and energy sectors.
During the bilateral negotiations, representatives of the Korean companies demonstrated the Kazakh delegation advanced equipment and technologies.
LI SONG JEONG, COMPANY DIRECTOR:
- I visited Kazakhstan and I know that our communications equipment can be used there. For instance, such affordable chips that cost about eight dollars each allow providing communications for a distance of fifty kilometers. I think that establishing units with these chips in small localities would have a positive result.
ARYSTAN KABIKENOV, KAZAKH VICE MINISTER OF INVESTMENTS AND DEVELOPMENT:
- Our production processes, especially, in mines, pit shafts and other sites and industrial facilities should undergo digital modernization. It means that your solutions will allow us to use high technologies.
Representatives of South Korean companies were invited to visit Kazakhstan for a more detailed discussion of joint projects. They will be able to discuss the partnership prospects at the Astana Economic Forum in May, and mining cooperation opportunities at the World Mining Congress in June.