AIFC and Busan International Financial Center join forces to advance financial markets in Kazakhstan and the Republic of Korea
The parties will conduct joint research and educational initiatives, exchange experience in managing international financial centres, and strengthen ties between investors in the two countries.
On 16 September 2026, the Astana International Financial Centre (AIFC) and the Busan International Financial Center (BIFC) signed a Memorandum of Understanding aimed at advancing strategic cooperation between the financial centres of Kazakhstan and the Republic of Korea.
The signing took place in Busan during the Annual General Meeting of the World Alliance of International Financial Centers (WAIFC) and the visit of President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea. The document was signed by Bakhtiyar Tleubekov, Chairman of the Management Board of the AIFC Authority, and Myung-ho Rhee, President of the Busan International Financial Center.
Busan is the largest port in the Republic of Korea and ranks second globally in terms of container transshipment volumes. Kazakhstan, in turn, plays a key role in the Trans-Caspian International Transport Route, also known as the Middle Corridor, which connects the markets of China and Europe through Central Asia, the Caspian Sea and the South Caucasus.
The development of the Middle Corridor and the Belt and Road Initiative is increasing demand for financial mechanisms capable of supporting growing trade flows, infrastructure projects and cross-border investment. Cooperation between the AIFC and the Busan International Financial Center will lay the groundwork for combining Busan’s logistics capabilities and Kazakhstan’s transit potential with the financial infrastructure required to implement international projects.
The Memorandum provides for the exchange of knowledge and practical experience in governance, professional training and the operation of international financial centres. The parties also plan to conduct joint research, seminars and educational programmes.
Another area of cooperation will focus on increasing investor awareness of opportunities in the markets of Kazakhstan and the Republic of Korea. The AIFC and the Busan International Financial Center intend to facilitate direct engagement between the financial communities of the two countries and expand their interaction with international markets.
“Busan is one of the world’s most important maritime trade hubs, while Kazakhstan is a key link in the overland routes connecting Asia and Europe. Cooperation between our financial centres will complement transport connectivity with financial connectivity, enabling capital to follow trade flows and helping investors identify new projects in Kazakhstan, the Republic of Korea and Central Asia. We intend to focus on joint research, professional training and direct engagement between market participants to turn infrastructure and trade opportunities into practical investment solutions,” said Bakhtiyar Tleubekov, Chairman of the Management Board of the AIFC Authority.
The signing of the Memorandum establishes a foundation for long-term cooperation between the AIFC and the Busan International Financial Center and for the implementation of joint initiatives aimed at advancing international cooperation in the financial sector.
During the WAIFC Annual General Meeting, Bakhtiyar Tleubekov, Chairman of the Management Board of the AIFC Authority, was also elected to the Alliance’s Board of Directors. His election will enable the AIFC to play a more active role in strengthening international cooperation among financial centres, exchanging best practices and implementing joint initiatives aimed at reinforcing the role of financial centres in shaping the future of the global financial system.
This year’s WAIFC Annual General Meeting is being held in Busan from 14 to 18 September 2026. Representatives of international financial centres are discussing new areas of cooperation, joint research and the exchange of best practices.
Reference Information
The World Alliance of International Financial Centers (WAIFC) is an international association of leading financial centres established to promote cooperation, exchange best practices and implement joint initiatives and research in the financial sector.
The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and business meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. www.aifc.kz
AIFC Press Office
Ainur Issabayeva, Press Secretary
E-mail: [email protected]
