Kazakhstan has called on South Korean companies to take part in the development of Alatau City, a next-generation urban center that is expected to play a key role in the country's economic transformation.

The invitation was extended during the 11th Kazakhstan-Korea Joint Commission on Trade, Economic, and Scientific-Technical Cooperation held in Astana, where officials revealed plans for more than 40 joint projects valued at approximately $4 billion, The Caspian Post reports via Kazinform.

Kazakh Minister of Industry and Construction Yersain Nagaspaev said the upcoming visit of President Kassym-Jomart Tokayev to Seoul in September is expected to give fresh momentum to bilateral relations and open new opportunities for cooperation.

Economic ties between the two countries continue to strengthen. Bilateral trade reached $3.17 billion in 2025, while South Korean direct investment in Kazakhstan has totaled $8 billion over the past decade. More than 700 companies with South Korean capital are currently operating across the country.

Nagaspaev said that 46 joint projects worth around $4 billion are currently under development, spanning a range of strategic sectors. He highlighted Alatau City as one of Kazakhstan’s most ambitious initiatives, designed to attract investment and serve as a center for advanced technology, digitalization, modern urban planning, and sustainable development.

South Korean companies have been invited to contribute their expertise in smart infrastructure and high-tech urban solutions as the project moves forward.

Deputy Chairman of the Investment Committee of Kazakhstan’s Foreign Ministry Yevgeny Kim described Alatau City as a cornerstone of the country’s new economic growth model. He noted that more than 50 investment projects worth over 2 trillion tenge are already being considered within the development framework.

The two sides also discussed creating joint working groups focused on green energy, artificial intelligence, critical minerals, and infrastructure development-areas expected to drive future economic cooperation.

South Korea’s Minister of Trade, Industry and Energy Kim Jung-Kwan welcomed the expansion of bilateral cooperation into emerging sectors such as smart cities, advanced technologies, and critical mineral supply chains. He also expressed support for President Tokayev’s upcoming state visit to Seoul.

The talks come as South Korea seeks to diversify its energy supplies, having recently agreed to purchase 18 million barrels of Kazakh oil through alternative routes amid ongoing instability in the Middle East.