Economy • 22 April, 2019

Kazakhstan and South Korea signed the new economic cooperation program “Fresh wind”

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It is reported by the press service of Ministry of industry and infrastructure development.

On April 22 of the current year, within the framework of the state visit of the President of Korea Moon Jae-In to Kazakhstan, theNew Economic Cooperation Program “FRESH WIND” for 2019-2022 was signed, which is implemented under the supervision of the Kazakhstan-Korea Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.

The document was signed by the Minister of Industry and Infrastructural Development of the Republic of Kazakhstan Roman Sklyar and the Minister of Trade, Industry and Energy of the Republic of Korea Sung Yun-Mo

The "FRESH WIND"program  implies a comprehensive interaction in 10 areas and the implementation of specific 58 projects in such sectors as transport and logistics, construction, industry, infrastructural development, the mining and metallurgical sector and subsoil use, trade and economic cooperation, energy, innovation and ICT , agriculture, finance, health care, and cooperation in the field of culture, tourism and education.

In addition, currently the package of Kazakhstan-Korean industrial-innovation projects includes 40 projects in the amount of 7.2 billion USD, of which 19 projects have been implemented in the amount of 1.9 billion USD, 6 projects are being implemented in the amount of 2.1 billion USD, and 15 promising projects totaling 3.2 billion USD, which implementation is presupposed by the “FRESH WIND”program.

It is important to note that Korea has entered into the top ten foreign countries in terms of the number of joint ventures, which is largely ensured by the active business cooperation and establishment of various bilateral contacts with business. Today in Kazakhstan, there are more than 500 enterprises with the participation of Korean capital.

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