Kazakhstan, Korea sign agreement worth $8 billion

Kazakhstan, Astana, Aug. 25 / Trend, A. Maratov /
Four agreements on further developing bilateral cooperation were signed today in Astana during a high-level meeting between the Kazakh President Nursultan Nazarbayev and the South Korean President Lee Myung-bak.
"Today, four agreements worth $8 billion have been signed following our talks with the Korean leader. This is a great achievement", Nazarbayev said at a press conference after the talks.
He stressed that the signing of agreements on such important projects as the construction of the Balkhash Thermal Power Station and Gas-Chemical Complex to produce polypropylene includes Korea in a list of "major investors in Kazakhstan."
Nazarbayev said 12 agreements were signed in the first half of the day during meetings with Korean leader’s visit to Astana.
"A number of important agreements will also be signed as part of the Kazakh-Korean business forum", he added.
"This is our fifth meeting in the last three years. We have summed up the previous agreements, discussed overcoming the world financial crisis, and a number of aspects relating to international problems - in particular the situation on the Korean Peninsula", Nazarbayev said.
He said that the trade turnover level between the two countries reached $900 million today.
The total volume of Korean investments in the Kazakh economy totaled $3.8 billion.