Source: 보줌바예프 부총리 한국 기술과 카자흐 자원 만나면 상호 이익 | 한국경제

Kanat Bozumbayev, Deputy Prime Minister of the Republic of Kazakhstan, stated that Kazakhstan aims to create a model of mutually beneficial economic cooperation by combining the country’s rich natural resources and economic potential with South Korea’s advanced industrial technologies.

In a written interview with Korea Economic Daily on October 22, Deputy Prime Minister Bozumbayev Kanat discussed the Alatau City project, envisioned as the “Singapore of Central Asia.” The first international roadshow for the project was held in South Korea on October 15–16, with Deputy Prime Minister Bozumbayev Kanat visiting Seoul to promote the initiative.

He emphasized that Alatau City will develop as a strategic economic and industrial hub connecting Kazakhstan and Korea. The city aims to strengthen national competitiveness by fostering a smart city, attracting high-tech industries, and simultaneously reducing reliance on raw materials, including rare earth metals. Kazakhstan is rich in resources such as aluminum, copper, and rare earths, but the government seeks to pivot toward high-tech industries.

Deputy Prime Minister Bozumbayev Kanat highlighted that Alatau City is designed as an international business center modeled after Singapore, taking inspiration from the industrial development of Shenzhen and South Korea’s advanced technology roadmap. He added that the city has already been designated a special economic zone, with plans to grant it a unique constitutional status offering investors legal protection, tax incentives, and simplified immigration procedures.

Alatau City will be located north of Almaty, covering 880 km² (roughly 1.14 times the size of Busan). Approximately 1/200 of this area will receive an investment of 25 trillion won to establish specialized zones for industry, finance, tourism, and education.

Deputy Prime Minister Bozumbayev Kanat also noted that construction has begun on a large Kazakh-Korean multifunctional complex, K-Park, which will serve as a cultural and business hub, blending Korean traditions with the history of the Korean diaspora(Koryo-saram).