S. Korea seeks close ties with Russia's sovereign wealth fund
SEJONG, Sept. 27 (Yonhap) -- South Korea will explore potential investment opportunities in Northeast Asia with a Russian sovereign wealth fund, Seoul's finance ministry said Friday.
South Korean Finance Minister Hong Nam-ki met Kirill Dmitriev, head of the Russia Direct Investment Fund (RDIF), in Moscow on Thursday (Moscow time) and discussed ways to expand economic ties between the two countries.
Hong expressed hope for new business opportunities with the RDIF.
The meeting came after Seoul and Moscow agreed to raise US$1 billion for a joint fund early this week to beef up the supply chain of industrial materials and parts by investing in core technologies.
The first batch of funding will amount to $400 million and gradually be expanded to invest in other areas, such as health care, down the road, Seoul's finance ministry said.
Depending on the development of the inter-Korean relationship, Hong claimed that the two funds can roll out joint projects in other countries in Northeast Asia, including North Korea.
Hong also visited the Russian factory of Paldo Co., a South Korean foodstuff maker with a strong foothold in the instant noodles market. The minister promised necessary support to help Korean companies penetrate deeper into the Russian market, according to the ministry.
colin@yna.co.kr
(END)
-
1 BTS earns 2nd 'million point' song on Oricon chart with 'Dynamite'
-
2 BTS performs 'BE,' surprise Coldplay cover on 'MTV Unplugged'
-
3 (Yonhap Interview) Jeongmilla: the artist who sings Seoul's blue hill neighborhood in 'CheongPa Sonata'
-
4 BTS' 'Map of the Soul: 7' achieves record high 52nd consecutive week on Billboard 200
-
5 'Please Look After Mom' author set to publish new novel after plagiarism row
-
1 (Yonhap Interview) Jeongmilla: the artist who sings Seoul's blue hill neighborhood in 'CheongPa Sonata'
-
2 U.S. court orders N. Korea to pay US$2.3 bln over 1968 capture of USS Pueblo
-
3 SHINee says vigor, passion drove new album following military enlistment hiatus
-
4 Moon underlines int'l financial bodies' picks of Koreans for key posts
-
5 BTS performs 'BE,' surprise Coldplay cover on 'MTV Unplugged'
-
1 BTS, Leenalchi, Jeongmilla sweep prizes at Korean Music Awards
-
2 (LEAD) New virus cases in 300s for 2nd day, cluster infections still worrisome
-
3 S. Korea announces innovative syringe method to increase vaccine doses
-
4 Moon says S. Korea ready to talk with Japan anytime, urges separation of history with future-oriented ties
-
5 COVID-19 vaccines transported to Ulleung Island via military helicopter