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October 26, 2017

Russia’s regions present investment potential to South Korean business representatives

Seoul (South Korea), October 25. – The investment attractiveness of the Russian fuel and energy industry, which was the subject of much discussion during Russian Energy Week 2017, was further developed in practical terms with a presentation of the investment potential of Russia’s regions delivered by the relevant regional leaders to South Korean business representatives. Participants in the event included Governor of Sakhalin Region Oleg Kozhemyako, Governor of Novgorod Region Andrei Nikitin, Head of Khanty-Mansi Autonomous Area - Yugra Natalya Komarova, Governor of Kaluga Region Anatoly Artamonov, and Head of the Republic of North Ossetia-Alania Vyacheslav Bitarov.

Oleg Kozhemyako in particular underlined the status of the Republic of Korea as a strategic partner of his region. “In 2016, the volume of mutual trade between Sakhalin Region and the Republic of Korea exceeded USD 3.8 billion. In the first eight months of this year, that figure has already reached 3.7 billion, and by the end of the year, it will no doubt be higher than it was in 2016”, he said.

According to the Governor of Sakhalin Region, South Korea is one of the major importers of the region’s oil and liquefied natural gas, and cooperation has also been established in the coal industry and in the modernization of transport infrastructure.

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