By Diplomacy Journal Lee Kap-soo

The investment opportunities of Kazakhstan were presented at the Korea Chamber of Commerce and Industry on Nov. 11 within the framework of the forum “K-Global Synergistic Leap Forum – Central Asia Edition.” The event was organized by Shinhan Bank with the support from the Ministry of SMEs and Startups of the Republic of Korea, the Korea Chamber of Commerce and Industry.

The event aimed to strengthen business partnerships between the Republic of Korea and the Central Asian countries, expand trade opportunities, and promote innovative solutions. The forum served as an important platform for enhancing economic cooperation, sharing expertise, and establishing direct contacts between business communities.

Speaking at the opening ceremony, Ambassador of Kazakhstan Nurgali Arystanov emphasized the dynamic development of Kazakhstan and the country’s openness to investment. He noted that, in terms of foreign direct investment volume, the Republic of Korea ranks among the top three largest investors in Kazakhstan as of 2024, with over 894 companies with Korean capital successfully operating in the country, including financial institutions.

The Kazakh diplomat also highlighted that Kazakhstan consistently pursues a policy of digital transformation and actively develops cooperation with Korea in the areas of innovation, artificial intelligence, industry, infrastructure, and smart cities. He underscored that the upcoming C5+K summit and political dialogue create favorable conditions for further growth of mutual investment and expansion of economic partnership.

Among the recent examples of successful Kazakhstan–Korea cooperation are the launch of KIA’s automobile assembly plant in Kazakhstan, where mass production has already begun; Open Healthcare’s implementation of healthcare projects, including the opening of a Korean diagnostic center in Almaty; and Samsung Electronics’ launch of smart TV and washing machine production in Kazakhstan in August, demonstrating the high level of trust of Korean businesses in Kazakhstan’s investment climate.

The Ambassador also emphasized that the Republic of Korea ranks 10th among Kazakhstan’s trading partners, reflecting the strong potential for economic cooperation between the two countries.

Seo Seung-hyun, Head of Global Business Group at Shinhan Bank, expressed confidence that Central Asia is one of the most promising destinations for Korean enterprises, particularly in sectors such as energy, infrastructure, and digital industries.

Daulet Saktaganov, the Representative of Kazakh Invest JSC in Korea, briefed seminar participants on key investment opportunities and incentives offered by Kazakhstan to foreign investors and invited Korean companies to invest in Kazakhstan.

The forum concluded with a series of thematic sessions and consultations focused on opportunities for entering the Central Asian markets. Following the event, Korean companies expressed strong interest in deepening cooperation and discussed prospects for implementing joint projects.