The Export and Import Bank of Korea (Eximbank) has signed MOUs with a number of financial and research institutions in the Russian Far East to pave the way for Korean companies to explore and participate in the business opportunities in the Russian region.
Eximbank announced on Sept. 3 that it signed an MOU with Far-Eastern Marine Research, Design and Technology Institute (FEMRI) to facilitate mutual cooperation in the development of logistics infrastructure, and research in the sector. Chairman and President Lee Duk-hoon flew to Vladivostok, Russia, to sign the instrument along with his counterpart, President Yaroslav Nicolaev Seminkhin signing for FEMRI on Sept. 3.
The agreement includes joint research, the exchange of experts, academic conferences, policy meetings and seminars, among others, to be held mutually.
The move by Eximbank to sign the agreement with FEMRI, a core design institution for social overhead capital, highways, railroad and policies related to those areas, will help the Korean firms explore their business or project opportunities in the Russian Far East, especially giving a boost to the chances for their participation in various infrastructural projects linking Rajin, North Korea and Hassan, the Russian Far East.
On the day, the signing took place in Vladivostok, a seminar on cooperation between South Korea and Russia to develop the Russian Far East was held, especially on the construction of the infrastructural projects in the region. A North Korean research staff from the North Korean Development Center also presented his theme on the role of Eximbank in the development of infrastructure in the Russian Far East and cooperation between South Korea and Russia.
Dr. Mikhail Kholosha of FERMI spoke on the importance of the harbors and railroads in his speech on the potential of the development of the Eur-Asia transportation infrastructure and the cooperation between South Korea and Russia. In his speech, Dr. Kholosha noted the Trans-Siberia Railroad’s Dry Port Development at the point that separates Nakhodka and Vladivostok and the modernization of the TSR linking Vladivostok and Hassan, and the highways linking Hassan and Vladivostok.
Eximbank recently signed an MOU on joint research on the development of the Russian Far East with the Far Eastern Federal University in Vladivostok. The university is the largest university in the Russian Far East taking up various research on the development of the Russian Far East region with vast experience on research on Korea with a college for Korean studies set up in 1955 and the Korea-Russia Cooperation Center set up in 2005 to undertake research on cooperation between Korea and Russia for the development of the Russian Far East.
Eximbank President Lee sign an MOU with Chancellor Sergey V. Ivanets of the university on joint research on accelerating economic cooperation between Korea and Russia, the exchange of researchers and joint cooperation on knowledge projects.
The Eximbank President said at an MOU signing ceremony that the MOU between Eximbank and the university meant that a foundation has been established to spur cooperation between the Russian Far East and Korea, building a platform for knowledge cooperation for accelerating trade in the Northeast Asian region and North Korea and Russia.
In the meantime, Eximbank held, “The CEOs Session for the 2nd Half of 2015” at Seoul Westin Hotel in Seoul on Aug. 12, the bank said.
The event took place with an aim to find ways to strengthen the global competitive power for the Korean firms by finding new growth engines in the export area. It also means to overcome sluggish exports and the domestic economy, the bank said.
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