SEOUL, September 15 (AJP) - South Korea and Kazakhstan agreed Tuesday to cooperate on Kazakh crude oil supply and nuclear fuel, as the two countries raised their relationship to a Comprehensive Strategic Partnership at a summit in Seoul.
The agreements build on an economic relationship that is already substantial. Trade between the two countries topped $3 billion last year, and total South Korean direct investment in Kazakhstan has passed $12 billion, Kazakh President Kassym-Jomart Tokayev told business leaders in Seoul the same day.
After talks between President Lee Jae Myung and President Tokayev, the two governments signed 13 documents covering energy, nuclear power, intellectual property, forestry, urban development and historical preservation.
Under a basic arrangement on crude oil cooperation, the two sides will work together on supplying Kazakh crude, geological exploration and the development of oil and gas fields. They also agreed to prepare for and respond to disruptions in global oil supply, and to cooperate on petrochemical research and workforce training.
The South Korean government said the arrangement would strengthen practical, mutually beneficial cooperation across the value chain of Kazakhstan's oil sector, from oil field development to petrochemicals.
The two countries also expanded cooperation on nuclear power through two memorandums of understanding. Under the first, they agreed to conduct joint research on nuclear power plants and small modular reactors, which are compact reactors built largely from factory-made parts and designed to be deployed faster than conventional plants. The agreement also covers the exchange of nuclear industry policy information, technical support on nuclear and radiation safety, and training and exchanges for scientists and engineers.
Seoul said the memorandum created a framework for cooperation across the full cycle of nuclear power and expected it to support South Korean companies seeking to enter new nuclear power projects in Kazakhstan.
The second memorandum centered on fuel. The two sides will work to secure stable nuclear fuel supply chains, share experience on nuclear programs and safety, and cooperate on nuclear research and workforce development.
Kazakhstan is the world's largest producer of uranium, the raw material for nuclear fuel. The South Korean government said closer supply chain ties with Kazakhstan would strengthen the country's energy security and extend nuclear cooperation between the two nations into every area of the field.
Other memorandums cover battery energy storage systems, power grid stabilization, the development and modernization of transmission and distribution networks, and clean hydrogen and ammonia supply chains. They also include commitments to a friendly, transparent and predictable investment environment and to joint research on renewable energy.
Beyond energy, the two countries agreed to cooperate on the permanent preservation and management of sites in Kazakhstan linked to the Korean independence movement against Japanese colonial rule, along with joint academic research on those sites. Gen. Hong Beom-do, a commander in the armed struggle against Japan, died in Kyzylorda, Kazakhstan, in 1943, and his remains were returned to South Korea in 2021.
The remaining memorandums address intellectual property protection and the prevention of counterfeit goods, forest restoration and climate response, and urban development.
At the opening of the Kazakhstan-Korea Business Roundtable in Seoul, President Tokayev told executives from both countries that Astana and Seoul had built their relations over three decades on mutual respect, trust and friendship.
"Today, Korea is among Kazakhstan's largest trade and investment partners," he said. "We highly value the productive presence of major Korean companies and will continue to strengthen this positive trend."
President Tokayev said bilateral trade could double through joint efforts by the two governments and their companies. He praised Korean investors as "among the most determined and courageous leaders in investment" and pointed to the scale of their presence in his country.
"More than 1,000 companies with Korean capital operate in our country, including Samsung, Kia, Hyundai, Lotte, Doosan Enerbility and Shinhan Bank," President Tokayev said.
He described his trip as a chance to build on past gains. "This visit provides a good opportunity to consolidate the progress achieved and give new impetus to bilateral cooperation," President Tokayev said.
AJP Takeaways
- South Korea and Kazakhstan upgraded ties to a Comprehensive Strategic Partnership on Sept. 15 and signed 13 documents, led by a crude oil arrangement that includes joint preparation for global oil supply disruptions and two nuclear memorandums covering reactor research and stable nuclear fuel supply chains with the world's largest uranium producer.
- Kazakh President Kassym-Jomart Tokayev told Korean and Kazakh executives at the Kazakhstan-Korea Business Roundtable in Seoul that bilateral trade, which topped $3 billion last year, could double, and said more than 1,000 companies with Korean capital, including Samsung, Kia and Hyundai, operate in his country.
- Gen. Hong Beom-do, an independence commander who died in Kyzylorda, Kazakhstan, in 1943, is part of the history behind a new agreement to preserve Korean independence movement sites in Kazakhstan, background that AJP added beyond the South Korean government's list of signed documents.
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