As part of the state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea, the Astana International Financial Center (AIFC) and the largest payment service company in South Korea BC Card signed a Memorandum of Understanding, the purpose of which is sharing best practices and knowledge in the field of innovation, technology and the development of financial technologies, as well as the mutual promotion of the parties in the regional and international arena.
The Governor of the AIFC, Kairat Kelimbetov, on behalf of the AIFC, and Lim Nam Hoon, Head of Global Business Division on behalf of the BC Card, signed the document.
Within the framework of the document, the parties agreed to facilitate the creation, promotion and cooperation with other parties in the field of attracting investments in various projects.
In addition, the signed document will help create the opportunity to attract large technology companies to Kazakhstan and create conditions for the implementation of investment projects and programs.
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The Astana International Financial Center (AIFC) was established on the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The constitutional law establishing the AIFC was signed on December 7, 2015. The goal of the AIFC is to form a leading centre for international financial services. The objectives of the AIFC are to assist in attracting investments in the country's economy, creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan and ensuring its integration with international capital markets.
BC Card is South Korea's largest payment company and local brand network headquartered in Seoul, South Korea. The company provides end-to-end payment services primarily to financial institutions and merchants through its subsidiary Smartro.
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