Source: Commercial Documents Worth $19.19 Billion Signed at Kazakhstan–Korea Round Table in Seoul

The Kazakhstan–Korea Round Table was held during the state visit of President of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea. A total of 82 commercial documents worth $19.19 billion were signed.

The event was held under the auspices of the Kazakhstan–Korea Business Council and co-chaired by Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC, and Yoon Jin-shik, President of the Korea International Trade Association (KITA). President Tokayev and Prime Minister of the Republic of Korea Han Sung-sook addressed the participants.

President Tokayev noted that bilateral trade exceeded $3 billion last year, while Korean direct investment in Kazakhstan surpassed $12 billion. More than 1,000 companies with Korean capital operate in the country, and the joint industrial portfolio includes 51 projects worth over $4 billion.

An agreement was signed to develop the master plan for the Alatau Smart City project. KIND (Korea Overseas Infrastructure & Urban Development Corporation) and Qazaqstan Investment Corporation JSC concluded a strategic agreement to establish a $1 billion joint fund on a 50:50 basis to finance infrastructure, energy and public-private partnership (PPP) projects in Kazakhstan.

Other agreements cover automotive localization, ferrosilicon production, waste processing, healthcare and hospitality. Documents were also signed on the construction of a Lotte-branded hotel in Almaty and a hotel with residences in Alatau City.

Ahead of the round table, the President of Kazakhstan held meetings with the leadership of Lotte Group, Hyundai Motor Group, KIND and Hanwha Group. The talks focused on expanding the companies’ presence in Kazakhstan, further deepening localization in automotive manufacturing, and the participation of Korean partners in the development of Alatau City. The meeting with Hanwha Group addressed the development of Kazakhstan’s national artificial intelligence ecosystem and digital infrastructure.

Participants were also presented with ongoing Korean-backed projects involving automotive components, the Kialocalization centre, Samsung Medison ultrasound systems and the Kazakhstan-Korea Drone Systems LLP joint venture.

On 16 September, the First Korea-Central Asia Business Summit 2026 is taking place in Seoul, with the participation of the presidents of Kazakhstan, the Republic of Korea, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

During the memorandum signing ceremony, four documents were signed on the Kazakh side, including a memorandum among Hyundai Motor Group, Caspian Group and Kaspi Group on cooperation in Physical AI-Powered Smart City Development. The remaining documents concern equipment for a ferrosilicon plant in Ekibastuz, cooperation between QazTrade and the Korea Trade-Investment Promotion Agency (KOTRA), and cooperation in the rare metals industry.

The agreements cover industrial production, high-technology manufacturing, urban infrastructure and new financing mechanisms.

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