Analysis of Economic Cooperation between Kazakhstan and South Korea

Author
Yessengali Oskenbayev
Content Type
Policy Brief
Institution
Korea Institute for International Economic Policy (KIEP)
Abstract
This article investigates the potential direction of the Kazakh-Korean economic relationship. The two countries have become major partners in their economic relationship. It is important for Kazakhstan to establish economic relations with South Korea, to diversify its economy. Kazakhstan’s economy is strongly dominated by mineral resources extractive sectors, and the country’s rapid economic growth during the period from 2000 to 2007, and afterward due to oil price increases, was not well translated into substantial growth of non-extractive sectors. Kazakhstan could employ strategies applied by Korean policymakers to sustain business and entrepreneurship development.
Topic
Development, Bilateral Relations, Economic Growth, Economic Policy, Diversification, Trade, Economic Cooperation
Political Geography
Central Asia, Kazakhstan, Asia, South Korea