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South Korea, Kazakhstan elevate ties, agree to boost cooperation in crude oil, nuclear power

Source: IANS - World
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South Korea, Kazakhstan elevate ties, agree to boost cooperation in crude oil, nuclear power

Seoul, Sep 15 — South Korea and Kazakhstan agreed on Tuesday to elevate bilateral ties to a comprehensive strategic partnership and strengthen cooperation in crude oil, nuclear power and other advanced sectors, Seoul's presidential office said.

The agreement was reached during a summit between South Korean President Lee Jae Myung and Kazakh President Kassym-Jomart Tokayev held in Seoul one day before the first South Korea-Central Asia Summit.

The two leaders agreed to elevate bilateral ties to a "future-oriented comprehensive strategic partnership," building on diplomatic relations established in 1992 and a strategic partnership formed in 2009, according to presidential spokesperson Kang Yu-jung, Yonhap News Agency reported.

They also agreed to expand cooperation beyond trade and investment to encompass economic security, advanced industries and people-to-people exchanges.

The two governments signed 13 intergovernmental agreements and memorandums of understanding (MOUs) covering areas including crude oil, nuclear power and energy.

Among the agreements is a basic pact on crude oil cooperation, under which the two sides will work together on Kazakh crude oil supplies, geological exploration, oil and gas field development, and responses to disruptions in global crude oil supplies.

Kazakhstan is Central Asia's largest oil producer and exports crude through routes that do not pass through the Strait of Hormuz, which could help South Korea diversify its sources of crude oil imports, the presidential office said.

The agreement follows South Korea's efforts in April to secure 18 million barrels of Kazakh crude oil during a visit by presidential chief of staff Kang Hoon-sik to Kazakhstan as a special envoy for strategic economic cooperation.

Regarding nuclear power cooperation, the two countries signed two agreements on the peaceful use of nuclear energy covering joint research and development on nuclear power and small modular reactors, nuclear and radiation safety, stable nuclear fuel supplies, and workforce development.

"The agreements will establish a comprehensive framework for cooperation across the nuclear energy sector and help support our companies' participation in new nuclear power projects in Kazakhstan," Kang said.

The move is also expected to strengthen nuclear fuel supply chain ties with Kazakhstan, one of the world's leading uranium producers, enhancing energy security and expanding bilateral nuclear ties.

The two leaders also agreed to expand economic cooperation into future growth areas, such as artificial intelligence (AI), science and technology, and new cities, while broadening cooperation in renewable and clean energy.

At Lee's request for support for the stable activities of South Korean companies in Kazakhstan, Tokayev expressed his intention to designate the country's first deputy prime minister as a "Korea desk."

The two sides also discussed promoting people-to-people exchanges and content industry cooperation, as well as preserving sites and records related to Korea's independence movement in Kazakhstan ahead of the 90th anniversary in 2027 of the settlement of ethnic Koreans in Central Asia.

Tokayev invited Lee to make a state visit to Kazakhstan next year, with the two leaders agreeing to coordinate a mutually convenient date through diplomatic channels, the presidential office said.