South Korean Companies Consider Localization of Automotive Components in Kazakhstan

Representatives of the companies expressed interest in implementing investment projects in Kazakhstan, emphasizing the strategic importance of localizing the production of automotive components in the country. Implementing promising projects contributes to creating new jobs, technology transfer, and support for the development of the local economy.

Фото: ortcom.kz

The Foreign Representative of JSC "NC "KAZAKH INVEST" in the Republic of Korea, Daulet Saktaganov, met with Nam Choon Sik, Director of Procurement Department at KIA Qazaqstan. During the meeting, the parties discussed the possibility of implementing new projects for the production of original South Korean components for KIA in Kazakhstan.

During the discussion, the parties considered the possibilities of cooperating with South Korean companies SJG Sejong and Seoyon E-Hwa, which are the original manufacturers of equipment such as seats, bumpers, mufflers, etc. for KIA cars. Representatives of the companies expressed interest in implementing investment projects in Kazakhstan, emphasizing the strategic importance of localizing the production of automotive components in the country. Implementing promising projects contributes to creating new jobs, technology transfer, and support for the development of the local economy.

D. Saktaganov expressed confidence in the success of joint initiatives and stressed that the Government of Kazakhstan is ready to provide comprehensive support in implementing these projects, including through the conclusion of an investment contract.

"By the end of 2023, over 148 thousand units were produced in Kazakhstan, 30% higher than the previous year. In the next 3 years, it is planned to put into operation new automobile plants, which, in turn, will lead to an increase in production capacity to 350-450 thousand cars per year. In his Message, the Head of State noted the need to increase localization and switch to the production of automotive components. The construction of production facilities for automotive components in Kazakhstan opens up new horizons for both our country and our partners from South Korea. We are confident that such initiatives will strengthen economic ties and allow us to develop the automotive industry," the Foreign Representative said.