Korea Testing Certification (KTC) Selected to Lead the Kazakhstan Elevator R&D Park Project
Supporting the Prevention of Elevator Safety Accidents in Kazakhstan and the Expansion of Korean Companies into Central Asia
▲ Photo of the meeting between the delegation from the Kazakhstan Ministry of Industry and Infrastructure Development and KTC representatives
KTC has been selected as the lead organization for the "Kazakhstan Elevator R&D Park Project," a key initiative of the Ministry of Trade, Industry and Energy’s (implemented by the Korea Institute for Advancement of Technology) Industrial Trade Cooperation Development Support Program (ODA).
Kazakhstan is a leading country in Central Asia with significant international political advantages for entering related markets, including the Eurasian Economic Union (EAEU, with an economic scale of $4.06 trillion) and the Commonwealth of Independent States (CIS, with an economic scale of $5.4 trillion) customs union. It is also the largest trading country in Central Asia, with excellent infrastructure such as the Trans-Asian Railway (TAR) connecting Europe and Asia.
According to the Ministry of Industry and Infrastructure Development of Kazakhstan, the demand for elevators in Kazakhstan is projected to be 7,000 units annually in 2022 (approximately 232.5 billion KRW). With the continuous growth of the construction market (accounting for 6.1% of total GDP, with a CAGR of 6%), related urban renewal policies, and the upcoming need to replace outdated elevators in old cities like Almaty, the Kazakhstani elevator industry is expected to grow by 10% annually, reaching 498.4 billion KRW by 2030.
In addition, the elevator import market in neighboring Central Asian countries, including Uzbekistan, was valued at 681 billion KRW in 2022 and is projected to grow to 1.085 trillion KRW by 2030, based on the global elevator market growth rate of 6%. Considering the anticipated demand for new infrastructure post the Russia-Ukraine war, the elevator market is expected to expand further.
This project aims to foster the elevator industry in Kazakhstan and reduce safety accidents. Additionally, by establishing an Elevator R&D Park in Kazakhstan, the project seeks to enhance Kazakhstan’s elevator production capabilities and build a cooperative system between Korean elevator manufacturing companies and local Kazakhstani firms, establishing a strong elevator hub in Central Asia.
The Elevator R&D Park will include an Elevator R&D Center for prototype development, a testing center for certifying key safety components, and a training center for cultivating experts in elevator operation policies, testing, certification, inspection, and maintenance.
Moreover, a special zone within the R&D Park will be established to host Korean companies, offering support policies for joint ventures and local enterprises. This initiative is expected to provide tax benefits and support systems for Korean elevator manufacturers entering the Central Asian market and establishing production bases.
Additionally, KTC will collaborate with the Kazakhstani government to ensure that KTC-issued test certificates are recognized locally, facilitating the smooth supply of components produced in Korea to Kazakhstan.
To ensure the successful execution of this project, specialized companies and institutions in the field, such as OPE (CEO: Ham Young-chul), Korea Lift College, and Gyeongnam Technopark, will participate.
KTC President Ahn Sung-il stated, "Our participation in this project will play a significant role in establishing KTC as a global testing and certification body," and added, "We will do our utmost to prevent elevator safety accidents in Kazakhstan and support the expansion of Korean companies into Central Asia through the establishment of the Kazakhstan Elevator R&D Park."
