Chairman S.R.Cho of the Federation of Korean Industries (FKI) led the Economic Mission accompanying President Lee Myung-bak to Kazakhstan, a resources treasure chest for Central Asia, for 2 days beginning on May 12. He laid the groundwork for the exploration of the market for resources development infrastructure in Kazakhstan during his stay there.
The Presidential Economic Mission hosted “Korea-Kazakhstan New Growth Business Forum” with President Lee Myung-bak of Korea and Prime Minister Karim Masimov of Kazakhstan in Astana, the capital city of Kazakhstan, on May 13. Some 100 representatives of Korean businesses in Kazakhstan and members of the Presidential Economic Mission, including Chairman S.R.Cho of the FKI, Chairman Yang-ho Cho of Hanjin Group, and Chairman Woong-ryeol Lee of Kolon, and some 100 government officials and key economic figures of Kazakhstan participated in the forum.
Chairman S.R.Cho suggested, “Kazakhstan’s growth potential and Korea’s technology and experience should come together,” and stressed, “The two countries’ cooperation should be further developed into the telecommunication, plant, and electric power infrastructure fields, as well as strengthening the existing relationship in the resources and energy area” through his opening remark. He also requested that more Korean businesses be allowed to participate in resources development plant projects and other national infrastructure expansion projects in Kazakhstan.
The Presidential Economic Mission’s visit to Kazakhstan is expected to have had a positive effect on Korean businesses’ access to various public infrastructure development projects initiated by the Kazakh government. In fact, Kazakh businesses and government agencies are requesting Korean companies expand their investment and involvement in petroleum and gas exploration plant, housing, and road construction and financial market development.
