Seo Kang-hyun, President in charge of Corporate Planning & Coordination at Hyundai Motor Group; Park Jung-sung, Deputy Minister for Trade Negotiations at the Ministry of Trade, Industry and Energy; Ardak Zebeshev, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan; Chairman Vyacheslav Kim; and Chairman Choi Yuri of Caspian Group sign an agreement on the promotion of the Alatau City Project with Kazakhstan’s private investment company “Caspian Group” and financial and investment company “United Group Alatau” at the 1st Korea–Central Asia Business Summit on the 16th. Provided by Hyundai Motor Group
Hyundai Motor Group signed an agreement on the 16th at the 1st Korea–Central Asia Business Summit with Kazakhstan’s private investment company “Caspian Group” and financial and investment company “United Group Alatau” to promote the Alatau City Project.
The signing ceremony was attended by Seo Kang-hyun, Head of Corporate Planning & Coordination at Hyundai Motor Group; Choi Yuri, Chairman of Caspian Group; and Vyacheslav Kim, Chairman of United Group Alatau.
The Alatau City Project is Kazakhstan’s largest new city development, currently under construction on an 880 ㎢ site north of Almaty, the country’s largest city. It is a special economic zone designated as a national project by presidential decree of Kazakhstan.
Under the project, Caspian Group is taking the lead in urban development and local implementation, while combining this with the financial and digital ecosystem of United Group Alatau.
Through this agreement, Hyundai Motor Group aims to secure Kazakhstan as a base for future city projects in Central Asia built on physical AI, and to work with local companies to explore smart city projects in Alatau City and verify their commercial viability.
Among these initiatives, Hyundai Motor Group plans to first review business opportunities linked to urban development and operation, focusing on the gateway area of Alatau City, which is a key zone connecting Alatau City and Almaty.
In addition, it plans to comprehensively review cooperation potential in the fields of ▲ mobility ▲ energy ▲ digital, and to gradually define the specific business scope and participation plans through feasibility studies.
A Hyundai Motor Group official stated, “Kazakhstan is an important market where Hyundai Motor Group has built a business base over a long period, and through this cooperation we intend to identify new business opportunities based on the real needs of customers and the city,” adding, “Following sufficient verification of business feasibility, we will work to ensure that Alatau City becomes a cooperative case that demonstrates future urban services and new mobility business models.”
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