KIND

KIND Strengthens Investment and Development Cooperation with Central Asia on the Occasion of the Korea-Central Asia Summit

- Meetings with the Presidents of Kazakhstan and Uzbekistan and signing of six agreements
- Expanding opportunities for Korean companies through follow-up initiatives under support programs including the K-City Network and the development of new investment and development projects in Central Asia

The Korea Overseas Infrastructure & Urban Development Corporation (KIND), headed by President and CEO Bok-hwan Kim, participated in the Korea-Kazakhstan Business Roundtable, the Korea-Uzbekistan Business Forum, and the Korea-Central Asia Five-Country Business Summit held in Seoul from September 15 to 16, on the occasion of the inaugural Korea-Central Asia Summit. Through these engagements, KIND strengthened infrastructure and urban development cooperation with key Central Asian countries and expanded the foundation for Korean companies to enter the Central Asian market.

Through meetings with the Presidents of Kazakhstan and Uzbekistan, KIND discussed ways to cooperate on major projects currently underway in the two countries. KIND also signed a total of six agreements with key institutions across Central Asia, further defining follow-up development directions and cooperation commitments for individual projects. In addition, KIND laid the groundwork for continued cooperation to develop a pipeline of new investment and development projects by pursuing joint investment platforms, including joint direct investment and the establishment of funds.

On September 15, KIND held a bilateral meeting with the President of Kazakhstan at the Korea-Kazakhstan Business Roundtable. The two sides discussed the follow-up development of the Alatau New City Smart Town, for which a master plan is currently being developed under the K-City Network program commissioned by the Ministry of Land, Infrastructure and Transport (MOLIT) and implemented by KIND, while also exploring potential new investment and development projects and ways to expand Korean companies’ participation.

To strengthen cooperation on the follow-up development of Alatau Smart Town and the participation of Korean companies, KIND signed a Framework Agreement (FA) with the Alatau City Authority and a Memorandum of Understanding (MOU) with local private developer Caspian Group. KIND also signed a Strategic Cooperation Agreement with Kazakh Invest to cooperate on establishing a joint investment platform and identifying investment and development projects.

Later that day, KIND participated in the Korea-Uzbekistan Business Forum at The Shilla Seoul and met with the President of Uzbekistan to discuss the progress of ongoing cooperation projects, including the Tashkent Smart Bio-Cluster and the Tashkent New International Airport Development (Smart Aero City), as well as ways to further cooperate on the projects. KIND also signed an MOU with the Uzbekistan Fund for Reconstruction and Development (UFRD) to strengthen cooperation in jointly identifying projects in the infrastructure and urban development sectors.

• Tashkent Smart Bio-Cluster:
  The project involves the development and operation of a pharmaceutical and biotech industrial complex in the Zangiata area, south of Tashkent. A development plan and preliminary feasibility review were completed under the 2025 K-City Network program. A feasibility study is currently underway to examine investment and detailed project commercialization options.
• Tashkent New International Airport Development (Smart Aero City):
  The project involves the development of a smart airport city integrating the new airport with surrounding urban, logistics, and industrial functions. A master plan and phased development and investment strategy are currently being developed under the K-City Network program.

Through its meeting with the President of Uzbekistan, KIND reaffirmed the government of Uzbekistan's commitment to support and cooperate on major projects in the country, including the two projects above. KIND also further strengthened cooperation to jointly develop potential investment and development projects and connect project structuring and feasibility assessment from the early stages with subsequent investment, financing, and participation by Korean companies.

On September 16, KIND also attended the MOU exchange ceremony at the Korea-Central Asia Five-Country Business Summit held at The Westin Josun Seoul, where it exchanged two agreements with key institutions from Uzbekistan and Kyrgyzstan, further expanding the foundation for identifying and advancing investment and development projects across Central Asia.
 

• Medical and Pharmaceutical Industry Development Agency (MPIDA), Uzbekistan — FA for the follow-up development of the Smart Bio-Cluster
• Public-Private Partnership (PPP) Center at the National Investment Agency under the President of the Kyrgyz Republic — MOU on identifying local investment and development projects (PPPs) and expanding the participation of Korean companies

Together with the three agreements signed with the Alatau City Authority, Caspian Group, and Kazakh Invest at the Korea-Kazakhstan Business Roundtable, as well as the agreement signed with UFRD at the Korea-Uzbekistan Business Forum, KIND signed a total of six agreements on the occasion of the summit. Building on this foundation for cooperation, backed by the leaders of the respective countries, KIND plans to further strengthen its full-cycle investment and development support system so that the partnerships can lead to substantial investment outcomes in Central Asia.

“On the occasion of this summit, we have further strengthened our cooperative relationships with the governments of key Central Asian countries and laid the groundwork for potential projects identified through the K-City Network program and feasibility study support program, commissioned by MOLIT and implemented by KIND, to lead to tangible investment outcomes and Korean companies’ participation in investment and development projects,” said Bok-hwan Kim, President and CEO of KIND. “Building on our cooperation with the governments and key institutions of each country, we will continue to support Korean companies’ expansion into Central Asia by developing new project opportunities.”