The 14th Kazakhstan-Korea Business Council Meeting has opened in Seoul as part of the state visit of President of Kazakhstan Kassym-Jomart Tokayev to Korea.

President of the Republic of Kazakhstan Kassym-Jomart Tokayev is taking part in the Business Council meeting. Yoon Jin Sik, Co-Chair of the Kazakhstan-Korea Business Council on the Korean side and Chairman of the Korea International Trade Association (KITA), delivered opening remarks.

Prime Minister of the Republic of Korea Han Seong-sook also addressed the participants. More than 90 Korean companies are taking part in the event.

“Today’s meeting is particularly important for further strengthening business cooperation between Kazakhstan and Korea. I am confident that the agreements reached will give new momentum to our cooperation and pave the way for the implementation of new joint projects,” said Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC.

As part of the event, more than 80 agreements and other documents worth approximately $19 billion in total are expected to be signed. The Fund’s portfolio companies will sign agreements worth approximately $11 billion with Korean partners in the oil and gas, energy, and mining and metals sectors.

During the meeting, participants will discuss promising areas of cooperation and new joint projects that could provide additional momentum to the development of trade and investment ties between Kazakhstan and the Republic of Korea.

The Korea International Trade Association (KITA) and Samruk-Kazyna JSC serve as Co-Chairs of the Kazakhstan-Korea Business Council.