South Korea to Increase Investments in Kazakhstan
Kazakhstan is the largest recipient of South Korean investments in Central Asia. To date, South Korea has invested US$ 4 billion into Kazakhstan’s economy. The amount is nearly 70 percent of all existing South Korean investments.
The two countries plan to implement 40 industrial projects worth US$ 7.2 billion which will cover all areas. New initiatives in infrastructure and oil field development as well as the initiatives in manufacturing facilities, housing construction, wholesale and retail trade are expected to be launched in the near future.
A South Korean company will be involved in the construction of the Almaty highway. A joint car assembly plant is also planned to be opened.
“The healthcare industry is becoming stronger at the moment. Constructions of infrastructures are also dynamically developing. These projects are underway. Recently, Kazakhstan has placed great importance on new energy sources, specifically, in areas of preservation of natural resources and energy. Therefore, South Korean companies are planning to invest in these areas in the future,” said South Korean Ambassador to Kazakhstan, Kim Dae-Sik.