By Diplomacy Journal Lee Kap-soo
Nurgali Arystanov, Ambassador of Kazakhstan to Korea: “For Alatau City, the most ideal partner is Korea.”
Kazakhstan’s Ambassador to Korea, Nurgali Arystanov, stated in an interview with Diplomacy Journal on the 24th that “Korea combines speed with strong momentum while remaining firmly focused on its goals and direction,” adding that “Korea is the most ideal partner for advancing the Alatau City project.”
The Alatau City project, launched in 2023, is a major national strategic initiative for Kazakhstan, marking the start of the country’s transition from a resource export–dependent economy to one focused on advanced industries. Its core objective is to build a new city near Almaty, comparable in size to the South Korean city of Busan.
More than 90% of the designated territory has been established as a special economic zone, providing foreign companies with exemptions from corporate tax and VAT, as well as additional benefits such as reduced land and property taxes.
Ambassador Arystanov explained that the project’s goal is to establish a smart hub that integrates future-oriented industries such as AI, blockchain, and green energy. He emphasized that Kazakhstan’s abundant energy resources offer a key advantage in meeting the substantial power demands required for large-scale data center operations. “With its rich oil and gas reserves, Kazakhstan provides ideal conditions for attracting energy-intensive high-tech industries,” he noted.
Currently, 876 Korean-invested enterprises are operating in Kazakhstan. In 2024, Korea invested about 1.2 billion USD (approximately 1.67 trillion KRW), making it the country’s third-largest investor after Russia and the Netherlands. With Kazakhstan actively fostering new industries and attracting international capital, Korea—backed by its advanced technologies and strengths in ICT, smart cities, and green energy—is regarded as “the best partner.”
The Ambassador reiterated the importance of Korean involvement, stating, “Seoul is a global success story in smart city development. For Kazakhstan to join the wave of digital innovation, the active participation of Korean companies is essential.”
The Largest Investment Opportunity in Central Asia… ALATAU RISE With Kazakhstan to Be Held
The Alatau City Partner Attraction Roadshow, ALATAU RISE With Kazakhstan, will be held in Seoul from October 15 (Wednesday) to 16 (Thursday). This official event is designed to introduce the Alatau City project—emerging as Kazakhstan’s next-generation growth hub—directly to Korea’s leading companies and government institutions. Senior officials from the Kazakhstan government will visit Korea to present detailed strategies and partnership opportunities for the project.
‘ALATAU RISE With Kazakhstan’ will serve as the first major platform to showcase the vision and growth potential of Alatau City to Korean society, marking a new beginning to strengthen partnerships and broaden the horizons of economic and industrial cooperation between the two nations.
Alatau City is Kazakhstan’s strategic new city development project, envisioned as a hub for cutting-edge industries and international economic cooperation. In particular, the event will highlight a wide range of investment opportunities in advanced sectors prioritized by Kazakhstan at the national level, including future mobility and hydrogen energy.
During the event, Korean companies and public institutions will engage in practical business matching and cooperation programs, while the Kazakhstan government will present investment incentives, institutional support measures, and opportunities for joint research and development (R&D) within Alatau City. For Korean companies, this Roadshow is expected to serve not just as an introduction to the project, but as a gateway to entering the Central Asian market.
Key Kazakh Government Officials to Attend ALATAU RISE With Kazakhstan, Engage Directly with Korean Companies
The upcoming Roadshow will be a significant occasion with the attendance of key officials from the Kazakhstan government, who will engage directly with Korean companies and investors.
Notable speakers include Kazakhstan’s Deputy Prime Minister Qanat Aldabergenuly Bozymbaev, Vice Minister of Transport Talgat Lastayev, Vice Minister of Energy Ilyas Bakytzhan, Vice Minister of Industry and Construction Olzhas Saparbekov, Vice Minister of National Economy Bauyrzhan Omarbekov, and representatives from the Astana International Financial Centre (AIFC). They will present the strategic development direction of the Alatau City project and introduce national-level investment support policies.
Deputy Prime Minister Kanat Bozymbaev will outline the national economic growth strategy alongside the blueprint for developing advanced industrial complexes, including Alatau City. He plans to emphasize the desire to expand cooperation with Korean companies and public institutions. Particularly, he will highlight the significance of the “Alatau City Special Law” enacted on September 9 by President Tokayev, stressing the government’s commitment to fully supporting the investment environment through legal and institutional frameworks.
Vice Minister of Transport Talgat Lastayev will provide detailed explanations of the current status and future plans for building future mobility infrastructure within Alatau City, showcasing new business opportunities based on sustainable transport systems and smart logistics platforms.
Vice Minister of Energy Ilyas Bakytzhan will present Kazakhstan’s hydrogen economy roadmap and the status of renewable energy projects. He will underscore the promising cooperation potential with Korea in the hydrogen energy sector and introduce various possibilities to develop Alatau City as a global hub for hydrogen energy innovation.
Finally, the representative from the Astana International Financial Centre (AIFC) will highlight Kazakhstan’s competitiveness as an international investment hub, outlining the country’s financial infrastructure policies and investment systems aligned with global regulatory standards. They will also propose diverse opportunities for companies to manage capital more efficiently and securely through cutting-edge financial technologies such as fintech.
The direct participation of these high-level Kazakhstan officials at the event signifies that the Alatau City project is not merely an urban development initiative but a strategic national future industry cultivation project, symbolizing a strong commitment to deepening cooperation with Korea.
Alatau City: Emerging as Central Asia’s New Investment Hub
The Alatau City project is a massive national strategic initiative in Kazakhstan, expected to generate an economic value of multi trillion KRW. The Kazakhstan government works on drafting measures to facilitate and support foreign investors’ participation in this ambitious project. This project is envisioned to evolve beyond just a new city to become a smart city and industrial cluster that will become Kazakhstan’s new growth engine.
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Alatau City is designed to accommodate over 1.9 million people and aims to create more than 1.1 million jobs. Covering about 880 square kilometers—larger than the entire area of Busan, South Korea—the city is located north of Almaty, Kazakhstan’s largest economic center. It is being developed as a future-oriented smart city equipped with advanced industries, eco-friendly environments, cultural and tourism infrastructure, and residential areas. The project will focus intensively on fostering new growth sectors such as advanced R&D hubs, hydrogen-based energy infrastructure, and future mobility clusters.
The initiative is actively led by the Kazakhstan government and Yuriy Tskhay, a president of the local Korean diaspora association, who emphasizes the identity of the Koryo-saram as Koreans and expresses a strong will for priority cooperation with their homeland, South Korea.
To boost investment attractiveness, the Kazakhstan government has included Alatau City in a special economic zone (SEZ) and promised to enact a law for the city’s special legislative status by the end of 2026. This legislation will provide various benefits to resident companies and investors, including tax reductions, institutional stability, and a regulatory environment aligned with global standards.
Alatau City symbolizes Kazakhstan’s future and holds great promise as a K-partnership platform that will extend economic cooperation with Korea throughout Central Asia. Based on close collaboration with South Korea—renowned for its advanced technology, capital, and experience—the project is expected to establish itself as a global innovation ecosystem beyond conventional urban development.
Establishing K-Park, the world's first cultural and business K-convergence space
On September 12, the groundbreaking ceremony for "K-Park" was held at Alatau City. The event attracted significant attention, with key figures attending including Yuriy Tskhay, chairman of the Caspian Group and the Association of Koreans in Kazakhstan; Marat Yeleusizovich Sultangaziyev, governor of Almaty region; and Marat Almasovich Azilkhanov, deputy chairman of the Assembly of People of Kazakhstan, alongside other prominent political and business leaders from Kazakhstan.
This groundbreaking ceremony was held as a gesture of gratitude for Kazakhstan's historical support to the Korean diaspora. As the world's first K-cultural convergence complex, K-Park holds great symbolic significance. The project aims to combine the cultural roots of the Korean diaspora with modern Korean content and global trends, establishing a forward base to spread Korean diaspora and Hallyu (Korean Wave) culture from Central Asia to the world.
K-Park will go beyond a simple cultural experience space, featuring traditional Korean hanok-style architecture, K-content experience centers, exhibitions of Korean diaspora traditional culture, the global K-beauty industry, shopping malls, medical tourism, and MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, forming an integrated cultural hub.
Furthermore, K-Park is expected to serve not only as an important point for spreading the Korean Wave in Central Asia but also as a platform for expanding cultural and economic cooperation between Korea and Kazakhstan. While reflecting the identity and historical roots of the Korean diaspora, it will fuse global Korean Wave content, enhance social and cultural pride within the local community, and provide real business opportunities for Korean companies seeking overseas expansion.
Following the groundbreaking, K-Park aims for a first phase completion within two years. Upon completion, it is expected to mark a significant leap in cultural and economic cooperation between the two countries. As a core cultural infrastructure within Alatau City, K-Park is set to become a bridge connecting Korea and Central Asia and a new platform for the spread of the Korean Wave in the region.
