Korea-Kazakhstani MOU on Power Industry and Critical Mineral Supply Chain Cooperation: "Priority Development for Korean Companies"

Yoon Holds Summit with Kazakh President Tokayev
Strategic Partnership, Future-Oriented Collaboration
Agreed on Cooperation in Exploration, Development, and Use of Critical Minerals with Kazakhstan"

[Image source=Yonhap News]

On the 12th (local time), South Korea and Kazakhstan established a supply chain economic security partnership and agreed to strengthen cooperation in the development of critical rare minerals, whose importance has been highlighted in the era of the 4th industrial revolution. In particular, the two leaders agreed to further develop their strategic partnership into a more mutually beneficial and future-oriented relationship.

President Yoon Suk-yeol, during his state visit, held a summit with Kazakhstan President Kassym-Jomart Tokayev in the capital city of Astana and announced this through a joint press release. The two leaders shared the view that cooperation between South Korea, aspiring to be a global pivotal country, and Kazakhstan, pursuing the "New Kazakhstan Construction," is more important than ever.

First, the two countries signed a Memorandum of Understanding (MOU) on cooperation in the power industry and agreed to further strengthen collaboration in power plant modernization and renewable energy sectors. Through this, they plan to support Korean companies' continued participation in Kazakhstan's power capacity expansion and industrial development.

Additionally, the two countries agreed to combine Kazakhstan's abundant mineral resources with South Korea's excellent technological capabilities to strengthen the critical minerals supply chain. During President Yoon's visit, three MOUs, including one on "critical minerals supply chain cooperation," were signed to develop partnerships covering the entire cycle of exploration, mining, and refining of key minerals, including lithium.

In particular, they agreed to cooperate to ensure that Korean companies can have priority participation in the development of economically viable minerals.

President Yoon Suk-yeol, on a state visit to Kazakhstan, held a joint press conference with Kassym-Jomart Tokayev, President of Kazakhstan, at the Presidential Palace in Astana on the 12th (local time).
[Photo by Yonhap News]

The two countries agreed that cooperation in infrastructure sectors such as the "Almaty Ring Road" and the "Shymkent Combined Cycle Power Plant" has been very successful, and they will collaborate to produce further successful cases in expanding Kazakhstan's energy infrastructure.

President Yoon stated, "I requested President Tokayev's special attention to enable our companies to participate and contribute to major national projects promoted by Kazakhstan, such as the gas processing plant."

The two leaders also exchanged broad views on regional and global security issues, including the North Korean nuclear issue. They condemned North Korea's illegal nuclear and missile development and agreed to continue participating in international cooperation efforts to block North Korea's illegal funding.

Furthermore, President Yoon explained to President Tokayev the South Korean government's "K-Central Asia Silk Road Cooperation Initiative" and plans to hold the "K-Central Asia Summit," based on the principles of coexistence, convergence, and creation. President Tokayev expressed full support for these initiatives.

President Yoon added, "The Republic of Korea will harmoniously integrate our respective strengths in the journey ahead with Kazakhstan to create a brighter and more prosperous future," and expressed deep gratitude for the warm hospitality and friendship extended by President Tokayev, the government, and the people of Kazakhstan.

This content was produced with the assistance of AI translation services.