“Economic cooperation between Kazakhstan and Korea continues to grow very rapidly”

By Vice Chairperson Joy Cho with Deputy Editor Joseph Sung

Ambassador Nurgali A. Arystanov of the Republic of Kazakhstan in Seoul said, “Economic cooperation between my country and the Republic of Korea continues to grow by a rapid pace and today the Republic of Korea is Kazakhstan's third largest trading partner and the sixth largest investor in my country.”

Speaking at roundtable meeting at the Embassy of Kazakhstan in Seoul, on Aug. 29, 2023 on the occasion of the Constitution Day of Kazakhstan, Ambassador Arystaove the added, “The two countries are particularly active in cooperation in the fields of energy resources, minerals, and agricultural products.”

Kazakhstan, the world's ninth-largest country, with a low population density and a GNP of US$13,000, is home to 120,000 Koreans of Korean ancestry. Kazakhstan is a land of opportunity with more opportunities for good life than many other countries in the world. In 2022, the Constitutional Law was amended by a referendum to introduce a new political system.

The Constitution was amended by referendum in 2022 to introduce a new political system. The President's term was reduced to a single seven-year term, the President's relatives were banned from holding any government and other related public offices, and the President's powers were drastically reduced.

Kazakhstan is a country following democratic principles, where all citizens have equal opportunities and where they are committed to fair politics. Kazakhstan a country who is making a great leap forward by renewing her national system by establishing 'just and fair' standards in pursuance of the principal national idea.

As was briefly introduced afore, on August 29, a roundtable meeting was held to commemorate the Constitution Day at the Kazakhstan Embassy's conference room.

Many distinguished personalities attended the meeting. They included

Former Korean Ambassadors to Kazakhstan Baek Joo-hyun and Kim Sang-chul, Professor Dr. Kim Sang-chul of the Central Asia Institute, Honorary Legal Advisor Lee Seung-jin to Kazakhstan,  Lawyer Lee Seung-jin at the KORUS Law, and Deputy Director Ms. Jeong Eun of the Korea Central Cooperation Forum of the Korean Foundation for International Exchanges.

Following the program, Ambassador Arystanov of Kazakhstan in Seoul gave a presentation on the Constitutional Convention. As was briefly mentioned afore, Ambassador "This year's Constitution Day is the first to be celebrated since the Constitutional reforms came into effect through a referendum in June last year.”

Then he said, “These reforms have transformed Kazakhstan, marking an important milestone in the introduction of new democratic principles.”

The registration process for new political parties was simplified, and, for the first time since 2004, a system of linked proportional representation was introduced for parliamentary elections. When the 1995 Constitution was first drafted, there were many challenges facing the newly independent country.

Today, following the implementation of the Constitutional Amendments Bill, which amended one-third of the constitutional articles, Kazakhstan is essentially a new country compared to one just a few years ago.

The Constitution provides a blueprint for Kazakhstan's social, economic, and political development by guaranteeing individual freedoms as well as freedom of speech, assembly, and religion.

The Constitution also provides a solid legal framework for international cooperation.

Ambassador Arystanov then elaborated on the economic cooperation between the two countries. Today, the Republic of Korea is Kazakhstan's third largest trading partner and the sixth largest investor.

Korea and Kazakhstan are particularly active in cooperation in the fields of energy resources, minerals, and agricultural products. In 2022, trade has more than doubled, and more than Korean 700 companies are operating through the participation of Korean capital.

In this context, Ambassador Arystanov expressed his hopes for more investments in Kazakhstan from Korea.

Editor’s note:

Since the establishment of diplomatic relations Korea and Kazakhstan in 1992, bilateral cooperation has been strengthened in all fields: political, economic and cultural.

In 2009, bilateral relations reached a new level of strategic partnership, according to the Ministry of Foreign Affairs of Korea.

Currently, about 2,500 Korean nationals are known to be permanently residing in Kazakhstan, Korean 740 companies operate with the participation of the Korean capital. 

In 2014, an agreement on the abolition of the visa regime between Korea and Kazakhstan and an agreement on temporary work activities were signed, and a direct flight between the capitals of the two countries (Seoul and Astana) was opened in 2014. June 2015.

The trade in2022 more then doubled and reached $6.5billion.

Korea is the 6th largest foreign investers with $8.9 billion of FDI

All these developments will contribute to increasing mutual visits and strengthening relations between the two countries in many areas.

For the Korea, Kazakhstan is not only an important country contributing to the consolidation of peace on the Korean Peninsula, but also a reciprocal partner in the field of trade and economy, including energy resources, construction, healthcare, and information technology. Korea wants to contribute to Kazakhstan's industrialization based on its experience of rapid economic development.

Korea wishes to build on the already established friendly relations between the two countries and create a model of cooperation for win-win development.

Korea will endeavor to strengthen mutual understanding between the peoples of the two countries by organizing various cultural exchange events.