Korea, Kazakhstan to boost cooperation on key minerals, infra projects

Diplomacy

Published: 14 Apr. 2023, 10:17 Updated: 14 Apr. 2023, 11:16

Korea, Kazakhstan to boost cooperation on key minerals, infra projects

Industry Minister Lee Chang-yang, right, and Kazakhstan's First Deputy Prime Minister Sklyar Roman pose for a photo during a meeting held at Lotte Hotel in central Seoul on Friday. [MINISTRY OF TRADE, INDUSTRY and ENERGY]

Korea and Kazakhstan agreed Friday to expand bilateral cooperation on key minerals and major infrastructure projects, Seoul's industry ministry said.

The consensus was made during a meeting between Industry Minister Lee Chang-yang and Kazakhstan's First Deputy Prime Minister Sklyar Roman held in Seoul earlier in the day, according to the Ministry of Trade, Industry and Energy.

The two sides said that they are optimum partners in terms of major minerals, and agreed to work more closely to ensure their stable supply.

Kazakhstan is rich in rare metals and other minerals, as the country has the largest amount of chrome deposits in the world and has the second-largest amount of uranium reserves.

Korea has advanced technologies and manpower in developing them, the ministry said.

The officials also noted that the two nations have been successful in jointly conducting various infrastructure and energy projects, such as the construction of a combined cycle plant in the Kazakhstani city of Shymkent, and Lee requested attention for Korean firms seeking new contracts in the energy and materials sectors in the central Asian nation.

Lee also asked for Kazakhstan's support for Seoul's bid to host the 2030 World Expo in the southeastern city of Busan, the ministry said.

Bilateral trade hit an all-time high of $6.53 billion last year, government data showed.

Yonhap