On March 19-20, 2019, the 8th meeting of the Kazakhstan-Korea Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) was held in Seoul.

The Minister of Industry and Infrastructure Development Mr. Roman Sklyar chairs the Kazakhstani side, and the Minister of Trade, Industry and Energy Mr. Son Yun-Mo from the Korean side.

During the meeting, the Parties expressed satisfaction with the expansion of cooperation between the two countries in various sectors, and confirmed their readiness to expand mutual cooperation between the two countries.

Having considered the current state of economic relations and the volume of mutual trade, the Parties confirmed the importance and necessity of intensifying and strengthening trade and economic cooperation between the two countries.

Kazakhstani side proposed a new roadmap for economic cooperation aimed at expanding joint investment projects.

As part of the meeting, Aslan Bulatov, Managing Director of “Kazakhstan Project Preparation Fund” (KPPF) LLP, acting as part of the Kazakhstan delegation, held talks with Korean companies “Korea Overseas Infrastructure and Urban Development Corporation” (a global business support company in PPP) and Posco (a leader in steel production) on implementation of joint projects with Kazakhstan companies.

Kazakhstan Project Preparation Fund LLP (KPPF) is a subsidiary of Baiterek National Managing Holding JSC. The company was established on March 19, 2014. The KPPF’s goal is defined as facilitation of infrastructure development in the Republic of Kazakhstan through the provision of structuring and maintenance services for infrastructure projects, including the projects based on the PPP mechanism.

Baiterek National Managing Holding JSC is established in accordance with the Order of the President of the Republic of Kazakhstan on May 22, 2013. The aim of the Holding’s establishment is to facilitate the development and diversification of economy, attraction of investments, development of clusters and improvement of the corporate governance system in its subsidiaries. The Holding includes: Development Bank of Kazakhstan JSC, Investment Fund of Kazakhstan JSC, Housing Construction Savings Bank JSC, Kazakhstan Mortgage Company JSC, KazExportGarant JSC, Damu Entrepreneurship Development Fund JSC, National Technology Development Agency JSC, Mortgage Guarantee Fund of Kazakhstan JSC, KazynaCapitalManagement JSC, Baiterek Development JSC, and Kazakhstan Project Preparation Fund LLP.