Commodities turnover between Kazakhstan and South Korea to double by end of 2012

Commodities turnover between Kazakhstan and South Korea will double are reach $2 billion by the end of 2012, KazTAG reports citing Ambassador of South Korea to Kazakhstan Chuhen Pek. "I expect it to make around $2 billion this year," he told the journalists on Monday. According to Pek, the commodities turnover between the two countries will grow "by $1 billion". "But this, I think, does not reflect the big potential between the two countries," he noted. Meanwhile, according to the Ambassador, the volume of direct investments to Kazakhstan economy from Korea in the last 20 years makes "over $3 billion". He stressed that next year Korean companies are going to invest $8 billion in construction of Balkhash heat power station and Atyrau oil chemical complex. "Over $10 billion of investments," the Ambassador stressed. "I think that currently the relations between Korea and Kazakhstan are at the highest level ever," Pek said.