Kazakh-korean car plant to be built in Almaty
A joint Kazakh-Korean car manufacturing plant will be constructed in an industrial area in Almaty.
At the initial stage, the factory will manufacture 30,000 vehicles per year and is expected to expand the production volumes up to 45,000 cars. The plant will assemble and manufacture components for eight models of the Korean brand.
“The company will transfer the technologies and innovations gained within 50 years in full capacity to Kazakhstan, which will allow our countries to build more solid industrial cooperation,” said South Korean Minister of Trade, Industry and Energy, Sung Yun-Mo.
Meanwhile, entrepreneur Nurlan Smagulov said that the local government is providing the business with utilities.
“All off-site networks have been connected, which is sufficient support as we are beginning construction. We use internal funds and loan for the project,” he added.
The economic cooperation between South Korea and Kazakhstan in the automotive sector has many benefits.
Experts said that Kazakhstan will offer South Korea access to Central Asia and Eurasian Economic Union markets, which comprised of more than 170 million population markets.