At the meeting between the Head of State and Hyundai, QazaqGaz JSC and Hyundai Engineering signed an Agreement on the implementation of a project to construct a gas processing plant with an annual capacity of 5 billion cubic metres, using feedstock from the Karachaganak field.

As part of the Kazakhstan-Korea Business Roundtable, in the presence of the Co-Chairs of the Kazakhstan-Korea Business Council (KKBC), the following agreements were signed:

▪️ An Agreement between KazMunayGas JSC and Samsung E&A on the project to expand the Pavlodar Petrochemical Plant to an annual capacity of 9 million tonnes;

▪️ An Agreement on the opening of a credit line between CCGT Turkistan LLP and the Development Bank of Kazakhstan JSC, with the participation of Doosan Enerbility, for the construction of a 1,000 MW power plant based on a combined-cycle gas turbine (CCGT) in the Turkistan Region;

▪️ A Framework Agreement on joint research between Tau-Ken Samruk JSC, Ognevsky GOK LLP and the Korea Institute of Geoscience and Mineral Resources (KIGAM). The document provides for joint drilling operations at the Bakennoye lithium deposit to confirm its potential and support its further development;

▪️ A Memorandum of Strategic Technical Cooperation in the field of rare earth element processing between Tau-Ken Samruk JSC and POSCO Holdings. The parties intend to develop cooperation in rare earth material processing, separation and refining technologies, as well as in the production of high value-added products.

Overall, the total value of agreements signed by the Fund’s Group has reached approximately $11 billion. In total, around 80 agreements worth approximately $19 billion have been signed as part of the Kazakhstan-Korea Business Council.