Baiterek Holding and Shinhan Financial Group Agree to Attract Up to $500 Million for Projects and Businesses in Kazakhstan

Chairman of the Management Board of National Investment Holding Baiterek Rustam Karagoishin continued the business program in Seoul as part of the state visit of President of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea. He participated in the Korea–Central Asia 2026 Business Summit (C5+Korea), signed a memorandum with Shinhan Financial Group, and held talks with representatives of the state-owned Export-Import Bank of Korea (KEXIM) and the Korea SMEs and Startups Agency (KOSI).

It should be noted that the delegation also includes Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan; Didar Karimssakov, Chairman of the Management Board of Qazaqstan Investment Corporation; Farhat Sarsekeyev, Chairman of the Management Board of Damu Entrepreneurship Development Fund; and other representatives of the Holding’s group of companies.

A key outcome was the signing of a memorandum between Baiterek Holding and Shinhan Financial Group, one of Korea’s largest financial groups. The document was signed by Rustam Karagoishin and Chin Okdong, Chairman and Chief Executive Officer of Shinhan Financial Group. The memorandum provides for cooperation with an indicative financing amount of up to USD 500 million.

“It is important for us that every meeting and every document we sign delivers a measurable result for Kazakhstan. The memorandum with Shinhan creates an opportunity to attract up to $500 million for investment projects and small businesses. At the same time, together with KEXIM, we are building a portfolio of major initiatives, while with KOSI we are developing more targeted and effective instruments to support entrepreneurs. Ultimately, this is about new production facilities, technologies, localization, exports and jobs,” said Rustam Karagoishin.

At a meeting between the Holding’s delegation and KEXIM Executive Director Ju Sang-jin, the parties discussed opportunities for joint financing of projects involving Korean companies, equipment and technologies.

Meanwhile, Farhat Sarsekeyev, Chairman of the Management Board of Damu Entrepreneurship Development Fund, held a meeting with Cho Joo-hyun, President of KOSI, during which new approaches to supporting small and medium-sized businesses were discussed. KOSI is a government analytical institute that helps assess the effectiveness of entrepreneurship support programs and develop data-driven support measures.

The Holding’s participation in the C5+Korea Business Summit complemented this work with a regional agenda. The discussions focused on expanding trade and investment, cooperation in critical minerals and energy, and the development of industrial infrastructure and logistics. For the Holding’s group of companies, these areas create new opportunities to attract capital, technologies and partners to projects in Kazakhstan.