Kazakhstan's Baiterek and Korea's KIND plan $1bn joint investment fund

September 14, 2026 at 06:24 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakhstan's Baiterek holding and Korea Overseas Infrastructure & Urban Development Corporation (KIND) are in talks to create a joint investment fund that could reach $1 billion. The first stage envisages $200 million in capital, with each side contributing $100 million. The discussions took place on September 14 in Seoul during President Kassym-Jomart Tokayev's state visit to South Korea.

Key Facts

The proposed Kazakhstan-Korea investment fund could reach $1 billion, with an initial stage of $200 million and equal participation by Qazaqstan Investment Corporation and KIND.
Negotiations took place on September 14 in Seoul during President Kassym-Jomart Tokayev's state visit to South Korea.
Baiterek presented a portfolio of potential projects in Kazakhstan worth about $7 billion to Korean partners.
Cooperation with Shinhan Financial Group could reach $500 million, including credit lines for the Development Bank of Kazakhstan and support for small and medium businesses through the Damu Fund.
Qazaqstan Investment Corporation may invest up to $10 million as an anchor investor in the SparkLabs Mirae Silkroad Fund I, L.P., a $65 million venture fund focused on AI, cloud infrastructure, and fintech.

Joint Investment Fund

Baiterek and KIND are considering a joint investment fund that could reach $1 billion, with an initial capital of $200 million. Qazaqstan Investment Corporation (QIC) and KIND would each contribute $100 million at the first stage. The fund's priority sectors include transport and digital infrastructure, logistics, urban development, and renewable energy. Alatau City in Almaty Region was named as one possible project site. Baiterek presented a portfolio of potential projects worth about $7 billion to the Korean partners.

Shinhan and K-SURE Cooperation

Baiterek and Shinhan Financial Group are discussing cooperation worth up to $500 million. The discussions include credit lines for the Development Bank of Kazakhstan, participation in syndicated and project financing, and support for SMEs through the Damu Fund. Baiterek and Korea's export credit agency K-SURE are considering insurance support for projects involving Korean equipment and technology. The first joint project could be a ferrosilicon plant in Ekibastuz operated by Mineral Product International LLP, with 48 million euros being sought under K-SURE coverage. The plant's design capacity is 160,000 tonnes of ferrosilicon per year, with an initial output of 80,000 tonnes.

Venture Fund Participation

Baiterek held separate talks with Mirae Asset on QIC's participation in the SparkLabs Mirae Silkroad Fund I, L.P. The venture fund has a target size of $65 million, and QIC may invest up to $10 million as an anchor investor. The fund plans to invest in technology companies, with priority areas including artificial intelligence, cloud infrastructure, and financial technology.