Trade Between Russia and South Korea Increased by 29% in 2018
OREANDA-NEWS The trade turnover between Russia and the Republic of Korea grew up in 2018 by 29% to $24.8 billion this was stated on Tuesday at the Seoul round table in the framework of the Day of the Korean investor, the Plenipotentiary of the President in Far East Federal district (FEFD) Yuri Trutnev.
"A third of this volume falls on the regions of the Far East," he stressed, adding that Korea is one of Russia's main partners in the Asia - Pacific direction.
According to him, Russia and South Korea "have all the conditions to further develop cooperation." At the same time, Trutnev noted that the main work in this direction "lies on the shoulders of the heads of companies, investors and depends on their creativity, trust, ability to work."
During his speech, the presidential envoy briefly spoke about the potential of the Russian Far East and the attractive conditions created by the Russian government for investors. He urged South Korean businessmen to actively enter the far Eastern Federal district, one of the many advantages of which is the close proximity to the Korean Peninsula.
"We will support every project, overcome any obstacles together. We invite you to work in Russia and invite you to visit the Fifth Eastern Economic Forum, which will be held in September in Vladivostok," Trutnev concluded.
The day of the Korean investor was first held in June 2017 in Khabarovsk. He joined the portfolio of promising projects with the participation of investors from the Republic of Korea worth more than $250 million in the current round table was attended by the heads of 22 major South Korean companies, the total revenue of which is more than $ 200 billion.
Among the most successful joint projects are the creation of the Hyundai motor automobile plant in St. Petersburg, which produces up to 200,000 cars a year, the construction of the Lotte Group confectionery factory in the Kaluga region, a business and hotel complex in Moscow, the opening of large-scale production of consumer electronics in Russia by Samsung and Algy.
Earlier was reported that the construction of a new bridge between Russia and North Korea has not been confirmed yet.