BAKU, Azerbaijan, September 15. South Korea's
Hotel Lotte Co. Ltd and Kazakhstan's Sensata Invest exchanged
memorandums of understanding on the construction of Lotte hotels in
Almaty and Alatau City, Kazakhstan.
According to the press service of the Kazakh president, the
memorandums were exchanged following a meeting between President of
Kazakhstan Kassym-Jomart Tokayev and Lotte Group Chairman Shin
Dong-bin in Seoul.
Tokayev emphasized that Lotte is one of Kazakhstan's
long-standing partners and has made a significant contribution to
the development of economic cooperation between the two
countries.
The president highly appreciated the Korean company's activities
in Kazakhstan's food industry, noting the successful project to
develop the Rakhat brand and modernize production facilities in
Almaty and Shymkent.
Tokayev also highlighted Lotte Global Logistics' plans to expand
transport and logistics infrastructure, with further expansion of
access to regional and international markets.
Particular attention during the meeting was paid to the
development of the hospitality business. The president welcomed the
signing of an agreement on the construction of the first
Lotte-branded hotel in Almaty, noting the prospects for further
expanding the company's presence in Kazakhstan.
In turn, Shin Dong-bin confirmed plans to invest in Kazakhstan's
food industry, logistics services and hospitality sector.
He also said that the company intends to participate in Alatau
City development projects, including the creation of the Iconic
Complex.
On September 13, President of Kazakhstan Kassym-Jomart Tokayev
arrived in the Republic of Korea on a state visit at the invitation
of President Lee Jae Myung. He will participate in the first
Korea-Central Asia Summit.
