InterviewKyrgyzstan seeks to turn Korea summit pledges into concrete projects

For Kyrgyzstan, strengthening ties with Korea is no longer simply about building closer diplomatic relations. The bigger question now is how to turn that growing political goodwill into investment, technology and projects that can deliver tangible benefits to both countries.

For the newly appointed Kyrgyz ambassador to Korea, Melis Mamadaliev, the inaugural Korea-Central Asia Summit in September marked an important turning point in that effort, elevating multilateral dialogue from the foreign minister level to the level of heads of state.

“The first summit bringing together the leaders of six countries represents a transition toward a deeper and more strategically oriented partnership,” the ambassador said. “It also reflects the growing importance of Central Asia on the international stage and the Republic of Korea’s increasing interest in our region.”

Within the multilateral framework, Kyrgyz President Sadyr Zhaparov and President Lee Jae Myung held a bilateral summit. Having elevated ties to the level of Comprehensive Partnership in 2024, the two countries signed 18 agreements and memorandums of understanding during the latest meeting.

"The recent visit added practical substance and provided further momentum to our bilateral relations," the ambassador said.

Efforts to turn the 18 agreements into tangible results are already underway. Kyrgyzstan is working with the Korean Center for Standardization and Certification on a halal certification project, while the Joint Committee on Trade and Investment Promotion plans to hold a second meeting next year. The Korea Trade-Investment Promotion Agency (KOTRA) also has plans to open an office in Kyrgyzstan to facilitate direct business contacts and promote joint investment projects.

Turning resources into opportunities

The ambassador sees considerable potential for Korean companies in Kyrgyzstan's energy and infrastructure sectors.

One is hydropower. With mountains covering approximately 94 percent of its territory, Kyrgyzstan has an estimated hydropower potential of 142.5 billion kilowatt-hours (kWh) annually. Much of this potential remains untapped, however, leaving considerable room for investment in both large- and small-scale hydropower plants. Among its major projects is the Kambar-Ata-1 Hydropower Plant.

Kyrgyzstan sees potential in solar and wind energy as well. The estimated investment potential of renewable energy projects in Kyrgyzstan is around $1.3 billion. These projects could generate an additional 1.5 to 2 billion kilowatt-hoursof electricity per year, depending on the technologies used and climate conditions.

Calling Korea a "promising partner," the ambassador encouraged Korean companies to participate in investment projects for construction, as well as the modernization of existing energy infrastructure.

"Korea has advanced technologies and extensive experience in modernizing energy infrastructure and introducing innovative solutions for managing power systems,” he said.

Mining is another promising area for bilateral cooperation, with Kyrgyzstan boasting vast reserves of gold, tungsten, rare earth elements and other critical minerals.

Amid shifting global supply chains and growing demand for critical minerals, he sees opportunities to cooperate with Korea, whose semiconductor, battery and electric vehicle industries rely on stable supplies of these resources.

"We see cooperation in this area as a mutually beneficial opportunity, where Kyrgyzstan's natural resources can be combined with Korea's advanced technologies and investment capabilities," he said.

Kyrgyzstan ultimately aims to move beyond raw material exports by developing domestic processing industries and higher-value production, opening new manufacturing opportunities for Korean investors.

Often dubbed the "Switzerland of Central Asia," Kyrgyzstan is also looking to attract Korean investment in tourism. The country is developing the Ala-Too Resort, a major ski destination featuring around 250 kilometers of slopes and hotels with approximately 7,000 rooms.

"The government will provide the necessary utilities, engineering systems and ski infrastructure, creating favorable conditions for private investors," he noted.

Business-friendly environment

As Kyrgyzstan seeks to attract more foreign investment, it is aiming to create a business-friendly environment, backed by robust economic growth and a range of investment incentives.

Kyrgyzstan's economy has maintained robust annual growth of around 9 percent or more since 2022. The government is improving investment regulations and offering incentives, including tax exemptions and reductions, particularly in sectors such as energy, infrastructure and tourism. Its membership in the Eurasian Economic Union (EAEU) also provides investors with access to broader regional markets.

“I would particularly highlight its strategic geographical location in Central Asia, rich natural resources, growing domestic market and opportunities to access larger regional markets,” the ambassador said.

One specific initiative is the Tamchy Special Financial Investment Territory, designed to attract international capital through a favorable legal and regulatory framework. The project offers tax benefits for up to 49 years, a legal system based on English common law principles and international dispute resolution mechanisms. Foreign investors will also be allowed full ownership of their companies and free transfer of profits abroad.

"Even at the early stage of the project, companies from Korea, the United Arab Emirates, Switzerland, Hong Kong and Kazakhstan have already become some of its first registered participants," the ambassador said.

Looking toward next 35 years

As Korea and Kyrgyzstan prepare to mark 35 years of diplomatic relations in 2027, the ambassador sees the anniversary as an opportunity to set new goals for bilateral cooperation, with an emphasis on education.

“Today's students are tomorrow's specialists, entrepreneurs, scientists and leaders,” he said, while noting that the number of Kyrgyz students studying in Korea has increased fivefold to around 3,000. “They will be able to make an important contribution to the development of our countries and the strengthening of bilateral relations.”

To nurture the next generation, Kyrgyzstan hopes to expand university partnerships, joint degree programs and academic exchanges, while also exploring the establishment of Korean university branches in the country.

"Investing in education and human capital is ultimately an investment in the long-term future of Korea-Kyrgyzstan relations," he stressed.