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S. Korea, Kazakhstan set for summit to discuss cooperation on minerals, infrastructure

June 12, 2024 - 11:23 By Yonhap
President Yoon Suk Yeol (left) and first lady Kim Keon Hee arrive at Astana International Airport in the Kazakh capital on Tuesday. (Yonhap)

President Yoon Suk Yeol and Kazakh President Kassym-Jomart Tokayev were set to hold summit talks Wednesday to discuss strengthening cooperation in the supply chain of critical minerals, infrastructure development and other areas.

Yoon began his three-day state visit to Kazakhstan on Tuesday, the second leg of his Central Asia trip following his stop in Turkmenistan.

At the talks, the two leaders plan to discuss ways of further advancing economic ties, particularly in resources and infrastructure development, and address regional and international security issues.

They will then sign a memorandum of understanding on deepening the Strategic Partnership and attend a joint press briefing.

The two countries established diplomatic ties in 1992 and forged a strategic partnership in 2009. South Korea is Kazakhstan's fourth-largest investor and fifth-largest trading partner.

Following the summit, Yoon is scheduled to attend a bilateral business forum focused on boosting trade and investment in a wide range of fields.

Korean companies are eyeing investment opportunities in exploration, production and infrastructure development in Kazakhstan, which boasts significant reserves of oil, natural gas and key minerals, such as uranium and chromium.

Kazakhstan's emphasis on infrastructure development aligns with Korean investors' expertise in construction and management of large-scale infrastructure projects. (Yonhap)