2016 Korea-Russia Business Meeting for Russian Far East Development

Date: September 28 (Wed.)
Venue: KRIHS Hall
Theme: Korean-Russian Business Meeting of Experts & Investors Concerned for Development of Russian Far East

Korea Research Institute for Human Settlements (KRIHS) on September 28 hosted a business meeting for development of the Russian Far East region. The Russian side announced policies on the development direction of its leading development area, free port of Vladivostok and development fund. This was followed by an active discussion by both the Korean and Russian delegations on the direction of Korean corporate advancement into Russian Far East and how to improve it.

Participants, in particular, shared their opinions that Russia’s leading region for development needed not just practical benefits for foreign companies, but also strategies for sharing market information about Russian Far East and easing access to the market, such as simplifying the customs clearance process and ensuring smooth movement of distribution. And to equip Russian Far East with competitiveness in the overseas market, participants advised not just simply developing infrastructure and mass production of goods but also government-level technical assistance to develop high value-added products.

Concluding the meeting was the Korean side’s request to its Russian counterpart that it hopes for cooperation in the proposed medical complex and science-technology cluster slated to be built on Russky Island, two projects that have garnered the attention of Korean companies.

The meeting was chaired by KRIHS Director Lee Sangjun, and attending for the 10-member Russian side included Albert Rakipov, Deputy Head of the Russian Ministry for the Development of the Russian Far East; Vasiliy Grebennikov, a manager at the Far East Development Fund; and Gennady Molchanov, vice president of Far Eastern Federal University in Vladivostok. The Korean side included Park Jongho, chairman of the Korea-Russia Business Council; Kim Jinho, president of Dow Industry; Park Jiwon, researcher at the Korea Trade-Investment Promotion Agency (KOTRA); Yang Woosik, manager at Eusu Logistics Corp.; Lee Sang-joon, professor at Kookmin Univeristy in Seoul; and KRIHS staff.

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