Kazakh President Kassym-Jomart Tokayev and KIA President Song Ho-sung are shaking hands;

On April 23, 2024, President Tokayev received the CEO of KIA Corporation, Ho-sung Song. During their meeting, it was emphasized that the production of cars is one of the key areas of Kazakhstan’s industrial policy. 

Ho-sung Song talked about the progress of construction of a full-cycle car production plant in Kostanay, which will be built in 2025. This ambitious project has already attracted over 200 million US dollars in investment and is expected to create 1,500 permanent jobs. The plant is designed with a capacity to produce 70,000 cars annually, with 50,000 cars to be manufactured using the small-unit assembly method, allowing for a higher share of local content.

     Kazakh President Kassym-Jomart Tokayev and Kia CEO Song Ho-sung are meeting

The CEO also informed of the ongoing work to attract global suppliers of automotive components. In particular, an agreement of intent was signed to build an auto components plant in Kazakhstan. The move is expected to further localize the production process and contribute to the development of the automotive supply chain in Kazakhstan.

     This is KIA President Song Ho-sung, who met with Kazakh President Kassym-Jomart Tokayev.

President Tokayev welcomed KIA's commitment to localizing auto component production, noting that it represents a significant step towards the growth of Kazakhstan's automotive industry. He stressed the importance of training domestic qualified specialists to support the industry's development.

The meeting concluded with mutual agreement on the positive outlook for the automotive sector in Kazakhstan and a shared commitment to strengthening cooperation between KIA Corporation and the Kazakh Government. This partnership has the potential to drive innovation, create jobs, and solidify the achievements in further improving Kazakhstan's investment climate.