Kazakhstan, South Korea ink agreements worth over $640M

The Kazakh-Korean Business Council was held in Seoul within the framework of the visit of Head of State Nursultan Nazarbayev.

Over 350 representatives of Kazakhstani and South Korean companies participated in the work of the business forum. Participants mainly focused on the prospects of bilateral cooperation in the following areas: pharmaceuticals, infrastructure, construction industry, mechanical engineering, trade, finance, tourist and more.

20 agreements in healthcare, IT, construction, finance, trade, and tourism worth over $640 million were signed during the forum.

Notably, the sides inked the memorandum on the creation of Nefertem cluster of pharmaceutical and medicobiological plants in Kazakhstan worth $350 million;

the memorandum of cooperation and interaction between SEOHA JSC and the Ministry for Investment and Development of the Republic of Kazakhstan worth $150 million and the memorandum on the creation of the Kazakh-Korean Consortium for attraction of investment on construction of a 504-bed hospital worth $80 million.

Presently, 465 South Korean enterprises operate in Kazakhstan in the sphere of trade and services, construction, agro-industrial complex, consulting and finance, subsurface use and geological exploration.

Also, there are 27 joint ventures in such fields as chemical industry, energy, mechanical engineering, medicine, ITC, ore and mining complex, infrastructure and light industry.

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