Leaders of Korea, Kazakhstan look to expand joint business projects in KazakhstanUpdated: 2014-06-20 07:52:10 (KST)
President Park Geun-hye and her Kazakh counterpart Nursultan Nazarbayev first checked up on three, previously-signed joint projects that are worth 10 billion U.S. dollars.
While agreeing to speed up the construction of a coal thermal plant and petrochemical complex, along with mining projects near the Caspian Sea, Seoul finalized a deal for Astana to purchase electricity worth 18 billion dollars from the thermal plant for 20 years.
"To bring out a synergy from a mutual supplementary economic structure, we have agreed to creatively seek new ways to link resources and technology in our cooperation."
Beyond their energy ventures, the two leaders agreed to sign a rail technology sharing deal that could offer Korean firms the chance to participate in Kazakh railway and transportation infrastructure construction in the future.
This, in line with President Park's initiative to link energy and logistics infrastructure across Eurasia, to transform the global economic system and assure security on the Korean peninsula.
They also discussed working together in areas of medicine, forestry and visa waivers.
"The former resources-centered diplomacy between the two sides has now been expanded to energy and all other industries."
Kazakhstan, which voluntarily handed over some 1-thousand former Soviet nuclear warheads in the 1990s, reiterated its position of not recognizing North Korea as a nuclear weapons state.
It also endorsed President Park's trust-building policies with the North.
"Wrapping up her state visit to Kazakhstan, President Park will depart for the final leg of her Central Asia tour to Turkmenistan Friday, the first-ever visit to the country by a Korean president.
Choi You-sun, Arirang News, Astana."
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