Kazakhstan is looking for South Korea’s capital markets to position the country as a gateway to Central Asia for Korean investors, said Renat Bekturov, governor of the Astana International Financial Center, in an interview with The Korea Herald.
The Korean market is one of the most advanced and liquid globally. And with blue-chip companies such as Samsung, the Korea Exchange ranks among the top five worldwide for initial public offering activity, Bekturov noted.
He hopes to build institutional links between the capital markets of Kazakhstan and Korea.
"We are especially interested in connecting our capital markets, offering Korean investors streamlined access to our financial ecosystem," Bekturov said.
According to Bekturov, Korean firms have yet to join AIFC’s broker community, but interest from Asian financial institutions — particularly from Hong Kong — is growing, with several firms already joining AIX as trading members.
He was in Seoul in May to promote the Kazakh capital market among Korean investors.
Beyond finance, Bekturov highlighted Korea’s growing industrial presence in Kazakhstan, pointing to Doosan’s 300 megawatt gas power plant and upcoming plans to develop a 1,000 MW facility.
Hyundai Engineering is participating in multiple regional energy projects, and the AIFC is expanding its outreach through AIFC Connect, aiming to strengthen ties between Asia, Central Asia and the Gulf, with events in Seoul and Hong Kong, according to Bekturov.
“We’re here to open doors,” he underlined.
“Korea and South Asia have large, self-sufficient markets, but they’re now looking outward for new opportunities and higher returns. Central Asia — and Kazakhstan in particular — offers that.”
Citing examples of strong local performance, Bekturov mentioned the IPO of uranium producer Kazatomprom.
“Launched at $11, it peaked at $47 and now trades around $30-35. Including dividends, it’s delivered roughly 20-30 percent annual returns,” he said.
He also referenced KazMunayGas, a state-owned oil company, whose 2022 IPO has returned close to 40 percent annually.
Nearly 4,000 companies are registered in the AIFC, including around 18 Korean firms.
“Many large Korean players like Samsung and Hyundai had already entered the Kazakhstani market before AIFC’s launch, but we see growing interest from smaller companies and financial institutions,” Bekturov said.
He also highlighted the AIFC’s access to regional markets via the Tabadul initiative — a network of exchanges led by Abu Dhabi Exchange.
“Our brokers now offer access to Abu Dhabi, Bahrain and Moscow markets. Through Tabadul, firms in Astana can trade seamlessly across these exchanges,” he explained.
The initiative includes the Astana International Exchange and Armenia’s Stock Exchange, among others.
“This means that Korean investors connected to AIFC can now access ADX markets, all without leaving their desks,” Bekturov concluded.
sanjaykumar@heraldcorp.com
