Kostanay: Deputy Chairman of the Board of Kazakh Invest, Madiyar Sultanbek, and Deputy Director of the Projects Department, Alzhan Yestemesov, recently held a meeting with In Je Cho, General Director of the joint venture with South Korea, Seoyon E-Hwa Kazakhstan. The discussion centered around a significant project aimed at localizing the production of auto components in Kazakhstan’s Kostanay region. The components produced will supply the Kia Kazakhstan plant that is currently under construction.
According to Trend News Agency, the project represents a $27 million investment and is expected to commence production in 2027. The Kostanay enterprise plans to manufacture various car parts, including door panels, seats, bumpers, consoles, and ceiling covers, among others. Sultanbek highlighted that this initiative is a crucial step in advancing Kazakhstan’s automotive cluster. He emphasized that the project will not only create new jobs but also expand cooperative supply chains and enhance the localization level within the automotive industry.
Sultanbek further explained that the Kia manufacturing facility in Kostanay is producing a substantial multiplier effect, with ancillary Korean enterprises entering the Kazakh market to provide automotive components. This development is expected to foster a comprehensive automotive ecosystem, creating employment opportunities and boosting the localization quotient within the industry.
In Je Cho expressed optimism about the project’s potential, noting that the company aims to supply auto components for the Kia plant in Kostanay and other factories in Kazakhstan. He stated that the project’s execution will establish a robust manufacturing base, which will serve as a platform for exporting products to countries in the region.
Seoyon E-Hwa is a global manufacturer of auto parts, with a presence in multiple countries, including South Korea, the US, China, India, and more. The company is a key partner of Hyundai Motor and Kia, providing a wide range of interior and exterior parts for leading global automakers.