S. Korea, Kazakhstan discuss expanding ties

SEOUL. KAZINFORM - South Korea's industry minister on Wednesday hosted a meeting with his Kazakh counterpart to discuss ways to broaden economic ties between the two countries, Yonhap reports.

South Korea's Ministry of Trade, Industry, and Energy hosted the meeting with Kazakhstan's Ministry of Industry and Infrastructure Development to share ideas related to the trade, investment, energy, and health sectors.

"With trade between the two countries reaching an all-time high, there are now huge potential opportunities in which we can enjoy shared growth," Minister Sung Yun-mo said during the meeting.

"We need to expand and beef up ties between the two in various areas, including industry, logistics, culture and tourism," the policymaker added.

Trade between South Korea and Kazakhstan came to US$2.16 billion in 2018, making it South Korea's biggest trading partner in Central Asia.

During the meeting, South Korea also requested Kazakhstan to provide necessary support to Hyundai Motor Co.'s plan to build an assembly line in the Central Asian country.

The participants shared ideas on South Korea's potential participation in Kazakhstan's nuclear power plant projects, the ministry added.

The two sides also touched on forging ties between South Korea's Incheon Free Economic Zone and Kazakhstan's Special Economic Zone and mutually providing customs benefits.