November 21, 2024

• 

[THE INVESTOR] President Moon Jae-in will attend the Eastern Economic Forum in Vladivostok, Russia, on Sept. 6-7 along with local business leaders to prepare a Korea-Russia economic cooperation plan, according to the presidential office on Aug. 9.

Top executives from Samsung, Hyundai Motor, SK, LG, Hyundai Heavy Industries, POSCO, and KOGAS, along with companies related to the energy, power, steel, and fishery industries, are expected to join him. 

According to Cheong Wa Dae, a meeting was held with company executives last week to discuss ways to expand investments in Russia. The firms were briefed on the status of related projects. 

President Moon Jae-in (left) and Russian President Vladimir Putin (right) hold a summit meeting on the sidelines of the G20 Summit.

Moon will be flanked by officials including Song Young-gil, head of Korea’s Northward Economic Cooperation Committee, and Jung Jae-ho, who was appointed special envoy for Russia in May. 

The NECC was created to spearhead joint projects with Russia and China. It will officially begin operations by end-August by holding meeting to review investment plans in the Russian Far East. 

Moon had a brief conversation with Russian President Vladimir Putin shortly after his inauguration and the two also met at the G20 summit last month. 

“Our countries are working together to expand the development in Far East. We are hoping that the Siberian natural gas pipeline will reach Korea and that our rail network will be connected sometime in the near future,” the president said in a statement at the time. 

Moon and Putin had agreed to cooperate with the Russian Far East development projects in agriculture, marine port, distribution logistics, and infrastructure, as well as the free port development project in Vladivostok. Discussions concerning a joint project with North Korea to link the railroads, energy, and electricity infrastructures also took place.

By Alex Lee (alexlee@heraldcorp.com)