Kazakhstan and South Korea Strengthen Economic Ties with a Focus on Automotive and Energy Sectors
Key Ideas
  • Kazakhstan and South Korea are enhancing their economic partnership through collaborations in various sectors like automotive production, rare earth metals processing, and hydrogen energy.
  • The focus on the automotive industry includes plans for establishing production facilities for major South Korean vehicle manufacturers and exploring the manufacturing of batteries for electric vehicles.
  • Both countries are also looking into waste management initiatives, joint production of ferroalloys, and expanding aviation connections to strengthen cultural and business ties.
  • The specialized working group on cooperation manages projects such as constructing new factories and producing household appliances and oil and gas equipment in Kazakhstan.
During a meeting between Prime Minister Olzhas Bektenov of Kazakhstan and South Korean President Yoon Suk Yeol, discussions centered on advancing trade and economic cooperation. Kazakhstan aims to swiftly implement high-level agreements with South Korea, focusing on areas like energy, rare earth metals processing, automotive production, and water resource management. South Korean investments have driven growth in Kazakhstan's mechanical engineering sector, with plans to develop automotive clusters and produce electric vehicle components. Collaboration also extends to waste management projects and the production of ferroalloys and rare earth metals for export to South Korea. Additionally, initiatives include localizing elevator equipment production, expanding aviation routes, and establishing manufacturing facilities for various products. The partnership signifies a commitment to diversifying Kazakhstan's economy and promoting technological exchange for mutual benefit.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.