Yoon "Strengthening Power and Critical Mineral Supply Chains" Tokayev "Support for K-Silk Road" (Summary)

Yoon "Will Develop as a Future-Oriented Partnership"
Tokayev "Plans to Establish Samsung Electronics Home Appliance Manufacturing Plant"

President Yoon Suk-yeol, on a state visit to Kazakhstan, held a joint press conference with Kassym-Jomart Tokayev, President of Kazakhstan, at the Presidential Palace in Astana on the 12th (local time).
[Photo by Yonhap News]

During his state visit to Kazakhstan, President Yoon held a summit meeting with President Kassym-Jomart Tokayev in the capital city of Astana on the 12th (local time) and stated, "We have agreed to further develop the strategic partnership into a more mutually beneficial and future-oriented partnership."

After the summit meeting with President Tokayev, President Yoon said in a joint press statement, "We share the view that cooperation between South Korea, which aspires to be a global pivotal country amid today's complex global crises and uncertainties, and Kazakhstan, which pursues the 'New Kazakhstan Construction,' is more important than ever."

President Yoon emphasized, "We have signed a 'Memorandum of Understanding (MOU) on Power Industry Cooperation' and agreed to further strengthen cooperation in power plant modernization and renewable energy sectors," adding, "Through this, we plan to support Korean companies to continue participating in Kazakhstan's power increase and industrial development."

"Priority Development of Economically Viable Minerals by Korean Companies"

The two countries agreed to strengthen the supply chain of critical minerals by combining Kazakhstan's abundant mineral resources with South Korea's excellent technological capabilities. On the occasion of President Yoon's visit, three MOUs, including 'Critical Minerals Supply Chain Cooperation,' were signed to develop partnerships across the entire cycle of exploration, mining, and refining of key minerals, including lithium.

In particular, they agreed to cooperate to ensure that Korean companies can have priority participation in the development of minerals confirmed to be economically viable.

The two countries also agreed that cooperation in infrastructure sectors such as the 'Almaty Ring Road' and the 'Shymkent Combined Heat and Power Plant' has been very successful, and they will cooperate to produce follow-up success cases in expanding Kazakhstan's energy infrastructure.

President Yoon said, "I requested President Tokayev's special attention so that our companies can participate and contribute to major national projects promoted by Kazakhstan, such as the gas processing plant."

The two leaders also exchanged broad views on regional and global security issues, including the North Korean nuclear issue. In particular, they condemned North Korea's illegal nuclear and missile development and agreed to continue participating in international cooperation efforts to block North Korea's illegal funding.

Furthermore, President Yoon explained to President Tokayev the South Korean government's 'K-Central Asia Silk Road Cooperation Initiative' and plans to hold the 'K-Central Asia Summit,' based on the principles of accompaniment, convergence, and creation, to which President Tokayev expressed full support.

President Yoon added, "The Republic of Korea will harmoniously combine our respective strengths in the journey ahead with Kazakhstan to create a brighter and more prosperous future," and expressed deep gratitude for the warm hospitality and friendship extended by President Tokayev, the government, and the people of Kazakhstan.

"Both Sides Will Strive to Increase Investment Indicators"

President Tokayev said, "President Yoon's visit to Kazakhstan proves that bilateral relations have developed to a higher level," and added, "We will further strengthen cooperation in the future." He continued, "The areas we want to emphasize are trade, economy, and investment," and said, "Both sides will work to increase indicators such as investment volume."

President Tokayev particularly noted the Korean companies operating in Kazakhstan, saying, "More than 700 Korean companies, including Samsung, Hyundai, Kia, Lotte, and POSCO, are successfully operating in Kazakhstan," and emphasized, "We are confident that we will continue to strengthen our multifaceted relationship with President Yoon."

He added, "We are interested in further strengthening cooperation in infrastructure, industry, finance, energy, environment, automotive, aerospace, AI, and electronics sectors," and stated, "We will actively support the steam gas plant involving Doosan and the home appliance manufacturing plant by Samsung Electronics, which is planned to be established."

He also said, "A biopharmaceutical factory is planned to be opened in Astana," and explained, "We will conduct joint research in the future, and we expect to create favorable conditions for Korea in these projects."

Additionally, he said, "It is pleasing that young people from Kazakhstan are studying in Korea," and added, "We will also help the Koryo-saram (ethnic Koreans) living here to live well." President Tokayev further remarked on regional and international issues, saying, "The positions of Korea and Kazakhstan are similar," and added, "We sincerely support the K-Silk Road."