Source: The Alatau City project was presented in Seoul.

The Alatau City project, a major smart city development in Kazakhstan’s Almaty region, was presented in Seoul to major South Korean companies on October 15. The roadshow was organized by a Kazakhstan government delegation led by Deputy Prime Minister of the Republic of Kazakhstan Bozumbayev Kanat to attract investment and promote collaboration.

Around 400 representatives from South Korean government agencies and companies attended the event. To convey the scale of the project, Alatau City was compared to a large South Korean Seoul city. The city is planned to cover 88,000 hectares, about 1.4 times the size of Busan, and will be designated as a Special Economic Zone offering incentives for foreign investors, including exemptions from corporate and property taxes and a 0% VAT on goods sold within the city.

During the first day of the forum, several memorandums of understanding (MOUs) were signed, including agreements between the Kazakhstan’s Ministry of Transport and Korea Airports Corporation, the Kazakhstan’s Ministry of Energy and the Global Green Growth Institute (GGGI), and between the Almaty Akimat and RETD.