South Korean Dy PM to attend EEF in Russia

Led by Deputy Prime Minister for Economy, over 200 representatives from South Korea, including officials of its federal government and business leaders, will attend the 5th Eastern Economic Forum (EEF) being hosted by Russia in Vladivostok from September 4 to 6.

Ahead of the annual event, Russian President's Advisor Anton Kobyakov met Korean Ambassador to Russia Lee Sok-bae here and the two discussed participation of the Korean delegation.

"For the fifth year running, the Eastern Economic Forum becomes a milestone event in the evolution of the relations between Russia and the Republic of Korea through the heightened interest of our colleagues in this event," Kobyakov said.

He said trade between Russia and Korea increased by 29 per cent last year and by another 39 per cent in the first months of this year.

"I am confident that the Forum's outcome this year will be even closer cooperation between our countries," Kobyakov added.

During the meeting, the Ambassador spoke about the South Korean delegation to the 5th Eastern Economic Forum.

"The Deputy Prime Minister for Economy, the Minister of Economy and Finance of the Republic of Korea Hong Nam-ki will head the official delegation. It is expected he will also speak at Forum events and Russia-Republic of Korea bilateral events," said Lee Sok-bae.

More than 200 representatives of the South Korean government, province and city leaders, as well as the business community will be part of the delegation.

President of Korea Gas Corporation Chae Hee-Bong and CEO of Lotte Corporation Hwang Kak-kyu, the principal representatives of the South Korean business, have already confirmed their participation in the EEF 2019.

The meeting discussed the leading entrepreneurs of the two countries participating in the Russia-Republic of Korea business dialogue at the EEF. Speakers are to discuss bilateral economic relations and the development of business projects.

The Korea Trade-Investment Promotion Agency (KOTRA) also plans to hold a Russian-South Korean business-to-business event on the eve of the EEF 2019 to help business representatives of the Republic of Korea find investment projects in the Far East.

Further, the parties discussed the holding of the 2nd Russia-South Korea Inter-regional Cooperation Forum as part of the Eastern Economic Forum 2019. The first forum took place in November 2018 in the city of Pohang.

On June 22, 2018, during the official visit to Russia, South Korean President Moon Jae-in and Russian President Putin signed the agreement on the annual status of the event.