South Korea's Korea Overseas Infrastructure and Urban Development Corporation (KIND) could be tapped to build and renovate regional airports in Kazakhstan. The possibility was discussed by Kazakh President Qasym-Jomart Toqaev and KIND President and CEO Kim Bok-hwan, according to infohub.kz.
The head of state invited the Korean corporation to take part in a large-scale plan to upgrade the republic's social and transport infrastructure.
The two sides paid particular attention to the transport and logistics system. Along with building and renovating regional airports, they discussed the possibility of KIND's involvement in developing the ports of Aktau and Kuryk.
Kim Bok-hwan, for his part, called Kazakhstan a key transport and logistics hub of Eurasia and said KIND was ready to help strengthen economic cooperation between the two countries.
KIND already has experience with a major infrastructure project in Kazakhstan: the corporation took part in building the Big Almaty Ring Road (BAKAD).
Alatau City could be another area of potential cooperation. During the talks, the focus was on the prospects for KIND's involvement in developing the new city. Toqaev noted the project's potential and expressed hope for the Korean side's active participation in Alatau City's infrastructure and investment initiatives.
The Baiterek holding has said it views transport and digital infrastructure, logistics, urban development and renewable energy as priority areas for potential cooperation with KIND.
Toqaev and Kim Bok-hwan also discussed setting up a joint Kazakh-Korean investment fund. It is expected to serve as a mechanism for attracting Korean capital and technology into Kazakhstan's infrastructure and energy projects.
Baiterek has said that at the first stage the fund could total 200 million dollars, with equal participation by KIND and Qazaqstan Investment Corporation. It could later be increased to 1 billion dollars.
The Korean side was also presented with a portfolio of potential Kazakh projects worth about 7 billion dollars in total.