Almaty and the South Korean province of Chungcheongnam-do are set to enhance their trade and economic cooperation, as well as develop tourism and education. The trade turnover between Almaty and South Korea has increased by 21%.
Welcoming the governor of the South Korean province of Chungcheongnam-do, Mr. Kim Tae Hyum, the mayor of Almaty, Erbolat Dosayev, noted that Kazakhstani-Korean relations are at a high level of strategic partnership.
The mayor of Almaty emphasized that South Korea is one of the leading foreign investors in Kazakhstan's economy – around $9.5 billion USD has been attracted since 2005. The trade turnover between Almaty and the Republic of Korea demonstrates a positive growth trend. In 2023, this indicator increased by 21% compared to 2022, reaching $1.27 billion USD (compared to $1.05 billion USD in 2022).
There are 537 enterprises operating in Almaty with South Korean capital (735 in Kazakhstan overall). Korean businesses are widely represented by major companies such as Samsung, KIA, Hyundai, LG, Ssang-Yong, Lotte, and many others.
In turn, Kim Tae Hyum thanked Erbolat Dosayev for his hospitality and noted the deep historical ties between the Kazakh and Korean peoples. He acknowledged the support of his compatriots during the difficult period of the resettlement of ethnic Koreans in Kazakhstan and expressed hope for further strengthening of the partnership.
He also mentioned that Chungcheongnam-do province is a driver of South Korea's economic development, ranking third in terms of exports, second in trade balance, and GDP size. The province is known for its production of electronics, cosmetics, food products, agriculture, and fisheries.
Both sides highlighted the significant potential for further cooperation. During the meeting, special attention was paid to increasing trade, economic, and investment cooperation, including in the areas of tourism, education, and youth support.
