South Korea looks to expand investment in Russia’s Far East

TASS Russian News Agency | Sep 18, 2019 at 12:23 PM

MOSCOW, September 18. /TASS/. South Korean officials look to expand investment in Russia's Far East, as Russia establishes a business-friendly climate, South Korean Ambassador to Moscow Lee Sok-bae said in an interview with Russian news agencies on Wednesday.

"Currently, many investment firms and companies from the Republic of Korea have expressed significant interest in investment [into Russia's Far East] to implement various investment projects," he said. "We hope that Korean companies will change their view on the investment climate in the Far Eastern Region due to the resolution of problems related to customs clearance and the need for infrastructure improvement faced by entrepreneurs."

The diplomat stressed that in the first quarter of the current year, the trade volume between South Korea and Russia's Far East has amounted to $5.66 bln. "Due to this, the Republic of Korea has become the leading trade partner of the Far Eastern Region," the ambassador added.

"To our mind, further expansion of investment volume is quite possible, and in order to do that, it is important to create examples of fruitful cooperation," Lee Sok-bae noted.