Trade minister holds 11th Joint Economic Committee meeting in Astana

Kim Jung-kwan, South Korea's minister of trade, industry and energy, poses for a photo with Kazakhstan's Minister of Industry and Construction Yersain Nagaspaev at the 11th Korea-Kazakhstan Joint Committee on Trade, Economic, Scientific and Technological Cooperation, held Monday at the Rixos Hotel in Astana, Kazakhstan. [Ministry of Trade, Industry and Energy]
Kim Jung-kwan, South Korea's minister of trade, industry and energy, poses for a photo with Kazakhstan's Minister of Industry and Construction Yersain Nagaspaev at the 11th Korea-Kazakhstan Joint Committee on Trade, Economic, Scientific and Technological Cooperation, held Monday at the Rixos Hotel in Astana, Kazakhstan. [Ministry of Trade, Industry and Energy]

South Korea and Kazakhstan have agreed to strengthen forward-looking economic cooperation across supply chain and energy sectors. The South Korean government said it will also work to resolve difficulties faced by Korean companies operating in Kazakhstan, including those in the electronics, automotive and plant industries.

The Ministry of Trade, Industry and Energy said Minister Kim Jung-kwan held the 11th Korea-Kazakhstan Joint Committee on Trade, Economic, Scientific and Technological Cooperation with Kazakhstan's Minister of Industry and Construction Yersain Nagaspaev in Astana on Monday.

The joint committee is co-chaired by the industry ministers of both countries, with related ministries and agencies also participating. The meeting — the first since May 2024 — was attended by officials from the Ministry of Land, Infrastructure and Transport, the Ministry of Climate, Environment and Energy, and the Korean Intellectual Property Office, among others.

The two sides discussed cooperation across a range of areas, including trade and investment, energy and natural resources, construction, digital technology, intellectual property and the environment.

Among the topics on the agenda was how to pursue a Comprehensive Economic Partnership Agreement between the two countries as a means of elevating bilateral economic ties.

The two sides also agreed to work together to secure stable crude oil imports amid growing energy supply uncertainty stemming from the war in the Middle East, and to cooperate on building Kazakhstan's power infrastructure and advancing power plant modernization projects.

In connection with Kazakhstan's Alatau new town development project, South Korea shared its experience in smart city development. The two sides also agreed to explore ways to foster cooperation between their companies in the urban air mobility sector.

"We will continue follow-up consultations on the matters discussed at this joint committee and work to further strengthen economic cooperation between the two countries through the first Korea-Central Asia Summit scheduled for September," Kim said.

Kim also met separately with Kazakhstan's Energy Minister Yerlan Akkenzhenov to review progress on crude oil import efforts following a presidential special envoy visit for strategic economic cooperation in April.

The two sides agreed to support the Karachaganak gas processing plant project secured by a Korean company, and to back the swift advancement of the Ekibastuz power plant modernization project.


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