
AI-generated summary
Kazakhstan is Central Asia's largest economic hub, and Alatau City is a new city development project. The forced migration of Koryo people refers to an incident in 1937 in which they were driven from the Maritime Province to the wastelands of Central Asia.
(Incheon = Yonhap News) Reporter Seong Do-hyeon = A 272m-high mega-landmark 'Iconic Tower', which will become the center of Eurasian logistics and finance, will be built in 'Alatau City' near Almaty in southern Kazakhstan, the largest economic hub in Central Asia.
In particular, ahead of the 90th anniversary of the forced migration of Koryo people in 2027, the status of the Korean business community in Central Asia is reaching a new turning point as plans are being fleshed out to build a high-tech economic hub connecting the East and the West and to create a 'K-Park' to commemorate the history of the Korean diaspora.
According to the Korean community on the 1st, Caspian Group Chairman Chae Yu-ri appeared as a 'Senior Special Recommendation' speaker at the World Korean Business Convention held at Songdo Convensia in Incheon on the 29th of last month and unveiled the Alatau City Iconic Tower construction roadmap and the 'K-Smart City' vision containing these contents.
Chairman Chae, a Korean businessman who is participating in the Alatau City development project, a new city project on which the Kazakh government is investing a lot of effort, said, "It was first conceived by the Kazakh Association of Koreans. It took a long time, 18 years, until today, and the process was not easy."
“At first, few people believed that this project would be realized, but now it has become a national project that the President of Kazakhstan is interested in and supports,” he said, adding, “Construction of the iconic building will begin on October 25th.”
What caught attention in Chairman Chae's presentation that day was the iconic tower that will symbolize the entire Alatau New City.
The main wing of the iconic tower, which will be built in the 'gate area' that will serve as the key gateway to Alatau City, will be 56 floors and 272 meters high. When completed, it is expected to be recorded as the tallest skyscraper in Almaty City and the entire southern region of Kazakhstan.
The total floor area of this huge complex is approximately 276,800 m2.
The 272-meter-tall main tower (Tower 1) will feature state-of-the-art office space for global companies and large financial institutions, and the upper floors will feature high-end residential apartments with panoramic views of the city and mountain range skylines.
The second tower (Tower 2), 15 floors (80 m), which will be built together, will feature an international standard 5-star premium hotel to welcome businessmen and tourists visiting Central Asia.
The core of this project is a huge three-story podium measuring approximately 58,000 m2 that unites the lower levels of two high-rise towers.
This space, which will feature shopping, entertainment, cultural exhibitions, and a variety of food and beverage (F&B) facilities, is organically connected to the entrance of each area through a large atrium flooded with natural light. The purpose is to create an open square that breathes the vitality and culture of the city.
The design was handled by SOM, a global architectural firm based in Chicago, USA, which drew up the sketches of the world's best skyscrapers, including 'Burj Khalifa' in Dubai, United Arab Emirates and 'One World Trade Center' in New York, USA.
Construction will be handled by China Construction Engineering Corporation (CSCEC), which has been carrying out mega-scale infrastructure construction in over 100 countries around the world. It can be seen as an extension of the issue agreed upon during Kazakh President Kassym-Jomart Tokayev's state visit to China in September last year.
Chairman Chae said, "In order to actually promote the project, cutting-edge technologies in the fields of digital transformation and artificial intelligence, advanced urban planning methods, large-scale energy supply capabilities, and efficient transportation and logistics systems are needed," urging active interest from the Korean government and businesses.
One of the things that caught the attention of compatriots around the world in this announcement was the 'K-Park' project, which will be built on a large scale near the Iconic Tower.
This is a space planned to forever remember the painful history of the Goryeo people who were driven from the Maritime Province to the wastelands of Central Asia in 1937, and the strong pioneering spirit that cultivated the barren land with their bare hands.
Chairman Chae said, "Korean people in Kazakhstan decided to join forces to build K-Park, an international cultural and business center in Alatau City. We would like to invite Koreans (including Koryo people) from all over the world to celebrate this meaningful day (the 90th anniversary of forced migration) together."
Inside K-Park, which is currently under construction and scheduled for completion in May next year, a large-scale walking trail and waterfront space will be created that will reinterpret Korea's traditional landscape aesthetics in a modern way. Various commemorative sculptures and outdoor exhibition facilities symbolizing Korea-Kazakh friendship and cultural exchange will also be built.
Caspian Group plans to invite a large number of Korean merchant networks and major Korean compatriots from around the world to Alatau City in line with the completion of K-Park to commemorate the historical significance of the 90th anniversary of forced migration and seek global business synergy.
AI outlook — possibilities, not facts
Construction work on the iconic tower will begin on October 25
Very likely · Within days
K-Park will be completed in May next year
Likely · Within months

As long-term bond price volatility increases due to a surge in bond interest rates at home and abroad, investment funds are flowing into short-term bond ETFs with low interest rate sensitivity. Woori Asset Management's 'WON Single Bond Plus Active ETF' ranked first among 45 domestic short-term bond ETFs with a one-year rate of return of 3.28% as of the 30th of last month, and its net assets were KRW 502.7 billion, an increase of KRW 346.4 billion this year.

KOSPI started lower on the 1st, but due to strong exports and Micron's performance announcement, it recovered some of the decline and is fluctuating in a flat range. Foreigners and institutions are net selling, individuals are net buying, and KOSDAQ is showing an upward trend.

Toss will end its Naver-linked reward marketing service from the third week of this month due to a conflict with Naver. Toss will maintain the reward marketing itself but discontinue only Naver-related channels, which is interpreted as a measure taken after Naver raised the issue of distortion of search results. The fintech industry is paying attention to whether this will have an impact on POS integration discussions.

Micron in the U.S. recorded sales of $54.23 billion in the fourth quarter of the fiscal year, breaking an all-time high, and expectations are growing for a long-term boom in the semiconductor industry as it is predicted that supply shortages will continue from 2027 to 2028. Experts emphasized the entry of a structural cycle in memory demand and said that Korean exports are also reaching an all-time high thanks to the strong performance of semiconductors.

LG Electronics announced a $110 million investment to build a chiller plant in Windsor, Virginia, starting production in the first half of 2027, to meet rising demand for cooling systems driven by AI data center growth, while expanding production in South Korea and supplying integrated solutions to a hyperscale AI data center in Jakarta.

Korea achieved its highest monthly exports last month, recording exports of $120.94 billion, making annual exports exceed $800 billion for the first time in history. Semiconductors led the increase in exports, accounting for nearly half of total exports, and the trade surplus also approached $50 billion.