By Diplomacy Journal Lee Kap-soo

The Governor of the Turkistan province, Darkhan Satybaldy, paid an official visit to South Korea on April 1-3, 2024. During the visit, he held bilateral meetings with CEOs of private sector organizations. 

The Governor was welcomed at Korea International Trade Association (KITA) by its Chairman, Jin Sik Yoon. During the meeting, they discussed the investment opportunities and significant potential for trade cooperation. Speaking about the business friendly climate in Kazakhstan, the Governor invited member companies of KITA to cooperate with the Turkistan province.

Darkhan Satybaldy expressed satisfaction that as per 2023 figures, Korea has become the 5th largest investor in Kazakhstan economy (after Netherlands, Russia, Switzerland and China). Korean businessmen were encouraged to invest in construction, agriculture, processing, and medicine as well as pharmaceuticals. 

The Governor also met with the Vice President of Doosan Enerbility, Kim Jong-gwan. They discussed the prospects for investment cooperation. Governor informed that thanks to attractive investment incentives, the Turkestan region has emerged as a growth point for the entire southern regions of Kazakhstan. At the end of the meeting, they signed a Memorandum of Understanding and agreed to explore business opportunities.

Moreover, the Kazakh delegation met with Yang Gu Lee, the CEO of the pharmaceutical company Dong Sung. They discussed ways of cooperation in the pharmaceutical field. Following the meeting, a Memorandum of Understanding was signed.

Overall, Governor Darkhan Satybaldy's visit underlined Kazakhstan’s commitment to subnational diplomacy and commercial engagements with Korea.