Russian-South Korean trade turnover up 29% in 2018 — envoy

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SEOUL, February 12. /TASS/. Trade turnover between Russia and the Republic of Korea soared by 29% in 2018 to $24.8 bln, Presidential Envoy to the Far Eastern Federal District Yuri Trutnev said at a roundtable as part of the Korean Investor Day in Seoul on Tuesday.

“Far Eastern regions account for one third of that amount,” he said, adding that South Korea is one of Russia’s main partners in the Asian-Pacific Region.

Trutnev believes that the two countries “have everything to expand cooperation in the future.” Meanwhile, he noted that “heads of companies, investors are entrusted” to do most work, which “depends on their creative activities, confidence, and ability to work.”

Presidential Envoy also spoke about the potential of Russia’s Far East and attractive conditions that the government has created for investors. He urged South Korean businessmen to enter the region more actively, considering that a close proximity to the Korean peninsula is one of its advantages.

“We will support each project and overcome any obstacles together. We invite you to work in Russia and visit the 5th Eastern Economic Forum that will take place in Vladivostok in September,” Trutnev concluded.

The first Korean Investor Day was held in June 2017 in Russia’s Khabarovsk. Projects worth more than $250 mln with South Korean investors were inked there.

Heads of 22 large South Korean companies with total revenue exceeding $200 bln participated in Tuesday’s roundtable.

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