ID :
200089
Tue, 08/09/2011 - 12:52
Auther :
Shortlink :
https://oananews.org//node/200089
The shortlink copeid
S Korean companies to expand presence in Far East, Siberia - view
MOSCOW, August 9 (Itar-Tass) -- South Korean companies intend to
expand their presence in Russia's Far East and Siberia, the Republic of
Korea's Minister of Foreign Affairs and Trade Kim Sung-Hwan said in an
exclusive interview with Itar-Tass on Tuesday.
The world financial crisis of 2008 reduced to an extent the bilateral
trade turnover, he said.
"However, in 2010 already, the mutual trade reached the pre-crisis
level of 18 billion dollars," he continued. "We hope to raise this figure
to 20 billion dollars this year."
South Korean companies have become active in Russia, he said.
"In the framework of the visit, our delegation has visited Hyundai's
plant in St. Petersburg," he continued. "The company produces 150,000
vehicles a year, but it plans to increase the output to 200,000."
A specific impetus to the development of bilateral relations was given
by the memorandum on mutual understanding and cooperation in modernization
of the economy, which was signed during the visit of Russia's President
Dmitry Medvedev to Seoul (November, 2010).
"This means continuation of the practical partnership, especially in
energy effectiveness and in information technologies," he said. "Korean
companies express big interest in the markets of the Far East and Siberia,
and many companies have been working there already in energy resources and
logistics."
Experts say that South Korea is becoming a leading investor in Russia'
s economy: accumulated investments have exceeded two billion dollars.
The countries work on major projects in nuclear, electric and fuel
energy, including supplies of Russia's natural gas. In 2009- 2010, Russia
supplied to the Republic of Korea under the Sakhalin-2 project 2.6 billion
tonnes of liquefied natural gas. Raw materials prevail in Russia's export.
Major imported goods are transport vehicles and equipment.
The sides also work actively on the project on reunification of the
Trans-Korean Railway and its connection with Russia's Trans-Siberian
Railway.
expand their presence in Russia's Far East and Siberia, the Republic of
Korea's Minister of Foreign Affairs and Trade Kim Sung-Hwan said in an
exclusive interview with Itar-Tass on Tuesday.
The world financial crisis of 2008 reduced to an extent the bilateral
trade turnover, he said.
"However, in 2010 already, the mutual trade reached the pre-crisis
level of 18 billion dollars," he continued. "We hope to raise this figure
to 20 billion dollars this year."
South Korean companies have become active in Russia, he said.
"In the framework of the visit, our delegation has visited Hyundai's
plant in St. Petersburg," he continued. "The company produces 150,000
vehicles a year, but it plans to increase the output to 200,000."
A specific impetus to the development of bilateral relations was given
by the memorandum on mutual understanding and cooperation in modernization
of the economy, which was signed during the visit of Russia's President
Dmitry Medvedev to Seoul (November, 2010).
"This means continuation of the practical partnership, especially in
energy effectiveness and in information technologies," he said. "Korean
companies express big interest in the markets of the Far East and Siberia,
and many companies have been working there already in energy resources and
logistics."
Experts say that South Korea is becoming a leading investor in Russia'
s economy: accumulated investments have exceeded two billion dollars.
The countries work on major projects in nuclear, electric and fuel
energy, including supplies of Russia's natural gas. In 2009- 2010, Russia
supplied to the Republic of Korea under the Sakhalin-2 project 2.6 billion
tonnes of liquefied natural gas. Raw materials prevail in Russia's export.
Major imported goods are transport vehicles and equipment.
The sides also work actively on the project on reunification of the
Trans-Korean Railway and its connection with Russia's Trans-Siberian
Railway.
