Russia’s Far East has a vast investment potential and is eagerly waiting for South Korean investors, Russian Minister for the Development of the Far East Alexander Kozlov said on Thursday at the first Russian-Korean Forum of Interregional Cooperation, TASS reports.
The potential for the development of bilateral cooperation is not being used fully, he said. "We would like to galvanize our cooperation and hope that this forum will help it, considering that the Far East has a vast investment potential," the minister noted.
In light of this, he lays hopes on today’s meeting, he said, the main task of which is "to search for touchpoints" between Russian and South Korean regions.
"Our delegation consists of more than 100 people, including five governors. More than one-third, strictly speaking 37.5%, of the whole Russian-South Korean trade turnover accounts for Russia’s Far East. The investment portfolio of the Republic of Korea in our region consists of six projects for a total sum of about $50 million," Kozlov stressed.
The official part of the Russian-Korean Forum of Interregional Cooperation started on November 8. Nine entities of Russia’s Far Eastern Federal District and 17 regions of the Republic of Korea are taking part in it. At the event representatives for regional governments, experts and businessmen discuss prospects for developing bilateral economic cooperation.