South Korea and Kazakhstan will expand cooperation in various fields, including core minerals, energy, trade, investment, finance, new industries and consumer goods.

The Ministry of Trade, Industry and Energy said that the two nations discussed this bilateral cooperation during the South Korea-Kazakhstan business forum in Astana on Wednesday. 

The forum, which was held on the occasion of President Yoon Suk Yeol’s state visit to the Central Asian nation, was attended by about 300 businesspeople from both countries, including the South Korean economic delegation.

At the forum, the two sides signed 24 private memoranda of understanding(MOUs) in connection with various fields including critical minerals, energy, infrastructure, financing and technology. 

The industry ministry expects that the South Korean companies that signed the MOUs with Kazakh state firms and sovereign wealth funds will have increased opportunities to participate in Kazakh projects.