Kazakhstan, South Korea deepen economic ties ahead of Tokayev's Seoul visit

Kazakhstan and South Korea are set to strengthen their economic partnership, with discussions covering trade, investment, energy, critical minerals, and technology. The 11th meeting of the Kazakh-Korean Joint Commission on Trade, Economic, Scientific, and Technical Cooperation, held on June 8, highlighted the robust growth in bilateral economic ties.

In 2025, mutual trade between the two nations reached approximately $3.17 billion. Over the last decade, South Korea has invested $8 billion directly into Kazakhstan. Officials explored strategies to boost this trade volume, diversify traded goods, increase Kazakh exports to South Korea, and eliminate administrative hurdles for businesses.

Kazakhstan's Minister of Industry and Construction, Yersain Nagaspayev, views President Kassym-Jomart Tokayev's upcoming visit to Seoul as a pivotal moment for bilateral relations. Currently, over 700 companies with South Korean capital operate in Kazakhstan, and 46 joint projects valued at around $4 billion are in progress.

Promising areas for future collaboration include industrial cooperation, energy, transport and logistics, digital technologies, critical minerals, and the development of Alatau City. Both countries are also keen on cooperation in critical minerals and rare earth metals. Kazakhstan proposed creating a joint list of priority investment projects and establishing working groups focused on green energy, artificial intelligence, critical minerals, and infrastructure development.

South Korean Minister of Trade, Industry and Energy, Kim Jeong-kwan, noted the expanding scope of cooperation into new domains like critical minerals and technological innovation. Energy and nuclear cooperation were also prominent on the agenda, with Kazakhstan expressing interest in South Korea's expertise in nuclear energy, including small modular reactors (SMRs), and workforce training. A memorandum of understanding in the nuclear sector is also being developed.

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Kazakhstan expressed interest in South Korea’s experience in nuclear energy development, including the deployment of small modular reactors (SMRs), workforce training, and scientific and technical cooperation.