Russia, South Korea sign agreement on economic cooperation plan, says presidential envoy

SEOUL, February 13. /TASS/. Moscow and Seoul have signed a plan of activities on ‘nine bridges’ of bilateral economic cooperation, Russia’s Presidential Envoy to the Far Eastern Federal District Yuri Trutnev told reporters following the talks with Deputy Prime Minister and Minister for Economy and Finance Hong Nam-ki and head of the Presidential Committee on Northern Economic Cooperation Kwon Goo-hoon in Seoul on Wednesday. The initiative to build 'nine bridges’ between the Republic of Korea and Russia for comprehensive cooperation was set forth by South Korean President Moon Jae-in during the Eastern Economic Forum in Russia’s Vladivostok in 2017. The concept particularly envisages cooperation in such areas as energy, railroad development, exploration of the Northern Sea Route, shipbuilding, and agriculture. "We signed projects that already exist at the level between the states," Trutnev said, adding that "all projects that were considered had been set from the viewpoint of joint efforts to implement them." According to presidential envoy, the agreement "was substantially more detailed than the ‘nine bridges’ plan that only defines the areas." "It already specifies the scale of investment behind the cooperation, particular enterprises, timescales, which means that it is already another product," he explained. On Tuesday, Trutnev took part in the events devoted to the Korean Investor Day in Seoul with heads of 22 large South Korean companies with total revenue exceeding $200 bln participating. Read more