Over $400 million in agreements signed at Kazakh-Korean business forum

Following the Kazakh-Korean business forum, which brought together over 500 entrepreneurs and representatives from more than 50 major South Korean companies, the two countries’ business circles signed agreements and contracts worth $400 million. President Kassym-Jomart Tokayev outlined further prospective directions for economic cooperation between the two countries. In addition to strategic sectors such as mineral resources and industry, these include the extraction and processing of critical raw materials and green energy. Moreover, Kazakhstan intends to transform the agro-industrial complex, which also opens up many opportunities for businesses.

«During today’s negotiations, the South Korean President proposed providing Kazakhstan with smart farming technology. I believe this is a very good proposal, and we will work on implementing this project. We are highly interested in adopting South Korean innovative agricultural technologies that leverage artificial intelligence, robotics, and biotechnology. The expertise in building highly efficient smart greenhouses is particularly sought after by our farmers,» Tokayev said.

Kazakhstan can enhance cooperation with South Korean partners in advancing artificial intelligence technology, constructing modern data centers, and cybersecurity. Significant opportunities for forging partnerships also arise in the fields of medicine and biotechnology.

«Global players such as Pfizer, Roche, GE HealthCare, and Philips are localizing the production of pharmaceuticals and medical equipment in our country. We anticipate that the South Korean bio company GL Rapha will soon commence the construction of a biopharmaceutical plant in Almaty, aimed at setting high standards in the domestic market. We also see significant potential in the establishment of South Korean diagnostic centers and multi-profile laboratories in our country,» Tokayev added.