Memorandum of Mutual Understanding was signed in Astana between “National Managing Holding “Baiterek” JSC, “Housing Construction Guarantee Fund” JSC and the Housing Guarantees Corporation of the Republic of Korea.

Aidar Arifkhanov, Chairman of the Management Board of “Baiterek” Holding said that comprehensive development of cooperation and communications with international partners are one of the Holding's main priorities. In particular, thanks to this work based on the experience of the Republic of Korea the Housing Construction Guarantee Fund was established in Kazakhstan and the necessary legislative framework for its activity was developed.

“The main principles of our cooperation are consolidated in the Memorandum of Mutual Understanding, which was signed in November 2016 during the visit of the Head of the State Nursultan Nazarbayev to the Republic of Korea. Today, we extend the term of the Memorandum, which will become the basis for a further exchange of experience and knowledge” - noted Aidar Arifkhanov.

In turn, Chairman of the Management Board of the Housing Guarantees Corporation of the Republic of Korea, Lee Jang Kwang expressed gratitude to Kazakhstan for strengthening of effective cooperation.

“Thanks to the Government of the Republic of Kazakhstan and “Baiterek” Holding, the experience of the Republic of Korea in the field of housing guarantee was introduced in Kazakhstan in a short time. This is the first international success of such kind” - said Lee Jang Kwang. - I am convinced that the new Memorandum will become a symbol of practical and mutually beneficial work. We will follow a detailed plan of our cooperation, in particular, in the field of joint practical training arrangement”.

Extraordinary and Plenipotentiary Ambassador of the Republic of Korea in Kazakhstan Kim Desik also noted the great economic potential of the bilateral cooperation.

“It is important to work together in the areas where it is possible to achieve the maximum effect - technology, education, social projects, housing, personnel development, comprehensive exchange of experience” – said Kim Desik. - These areas achievements will provide a maximum benefit to the both countries”.

Under the memorandum, the parties express their intention to develop and support the cooperation in the field of housing construction guarantee. The specific steps in the development of this area will be the exchange of knowledge and experience in the field of the housing guarantee system, mutual practical training, extension of cooperation and exchange of the information in the field of housing construction, as well as the creation of working groups and participation of representatives in joint educational programs.