During the state visit of President of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea, the two countries discussed the further expansion of trade, economic, investment and technological cooperation. Particular attention was paid to the implementation of investment projects, including in Alatau City, with the participation of leading Korean companies and institutions.
The joint initiatives span urban development, education and science, industry, energy, transport, hotel infrastructure and investment financing. One of the key priorities for Alatau City is to build a modern economic base and create quality jobs, including for young Kazakhstanis. The new city is seen not only as an area of infrastructure and housing construction, but also as a centre of business activity, education, research, innovation and high-tech manufacturing.
Today, the investment portfolio of Alatau City comprises 67 projects worth around USD 6.9 billion in total. Implementing these investment initiatives supports the growth of new economic sectors, the creation of jobs and rising demand for qualified professionals.
Cooperation with the Republic of Korea is one of the important areas of this work and covers an entire ecosystem — from education and research to manufacturing, energy, urban mobility and financial instruments. One of the key joint projects is K-Smart Town, implemented with the participation of Korea Overseas Infrastructure & Urban Development Corporation (KIND). Alatau City was selected under the K-City Network programme, after which a consortium of Korean companies and organisations was formed to develop the master plan.
The consortium is currently developing a master plan for an area of about 300 hectares in the Gate District. The project provides for a modern business and innovation centre with an estimated 72,000 residents and 51,000 jobs. The master plan is scheduled for completion by the end of 2026, after which the practical implementation of infrastructure and investment projects is expected to begin.
To secure long-term financing for joint projects, the parties are also working on establishing a Kazakhstan-Korea joint investment fund with the participation of Baiterek National Managing Holding, Qazaqstan Investment Corporation and KIND. The fund is seen as a dedicated financial instrument to support the infrastructure and investment projects of Alatau City and to attract Korean capital.
Human capital development is another important area of cooperation. Alatau City is working on establishing a campus of Korea Advanced Institute of Science and Technology (KAIST), one of the leading technical universities of the Republic of Korea. The campus is regarded as one of the anchor projects of the Golden District and is expected to become part of an ecosystem combining education, science, research, innovation and technology entrepreneurship. R&D centres, technology companies and startups are expected to take shape around the educational infrastructure, creating opportunities for graduates to build their careers directly in Alatau City. The goal, therefore, is not only to attract international educational institutions, but also to create conditions in which the knowledge and skills acquired are in demand in the economy of the new city.
The industrial dimension of the cooperation is represented by the Hyundai Green Food project. Alatau City is working on a production and logistics complex for food and cosmetic products. The project will support the localisation of manufacturing, the creation of jobs and the development of related logistics and service activities.
Particular attention is being paid to building a reliable energy base. Together with Doosan Enerbility, the parties are working on a power plant project with the technological capability for a subsequent switch to hydrogen. With the involvement of the Global Green Growth Institute (GGGI), support for the project’s feasibility study is being considered. The initiative aims to meet the growing power supply needs of Alatau City and to create conditions for the gradual introduction of lower-carbon energy solutions.
Korean partners are also involved in designing the transport system of the future. Together with Korea Airports Corporation (KAC), the Urban Air Mobility (UAM) direction is being developed. In the longer term, such solutions may become part of the multimodal transport system of Alatau City and enable new formats of urban and regional mobility.
Together with Lotte Hotels & Resorts, the parties are exploring opportunities to implement a hotel project in Alatau City. Developing modern hotel infrastructure is necessary to serve the growing flow of business and leisure travellers, to host international events and to create a comfortable environment for the city’s investors and partners.
Comprehensive cooperation with the Republic of Korea will make it possible to combine investment, technology, education and international expertise in the development of Alatau City. Implementing the projects under consideration will support the creation of new jobs, the transfer of technologies and skills, the development of modern urban infrastructure and the emergence of new opportunities for young professionals.
