There are about 500 joint enterprises with the participation of South Korean investments in Kazakhstan, director of the Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan (KazISS) Yerkin Tukumov said at the seminar themed Korea’s Industrialization Experiences: Opportunities and Implications for Kazakhstan’s Future held in Astana this week, Kazinform correspondent reports.
Those enterprises, according to Tukumov, promote growth of Kazakhstan’s human capital and invigorate the country's economic development.
On top of that, Kazakhstan and South Korea have 58 joint investment projects to the tune of $4.5 billion. The Republic of Korea, in fact, is the 6th largest investors of Kazakhstan’s economy. This goes to prove that cooperation between Astana and Seoul has a huge potential for development, Tukumov added.
For his part, Ambassador of South Korea to Kazakhstan Cho Tae-ick reminded that his country is renowned for its rapid development from one of the poorest nations in the world to an economic powerhouse, making great strides in democratization and industrialization on the way.
Ambassador Cho Tae-ick added that Kazakhstan is a key partner of South Korea. Kazakhstan accounts for 70% of South Korea’s trade turnover with Central Asia ($6.5 billion).
