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KOTRA looking for Model of Korea-New Northern Economic Cooperation

한-신북방 산업·기술협력 상담회
한-신북방 산업·기술협력 상담회

KOTRA held 'Business Meeting for Industry-Technology Cooperation between Korea and countries of New Northern Policy' from June 15 to July 16
40 companies from countries to Korea's north participated-in pursuit of cooperation in the medical, shipbuilding, and energy areas

KOTRA held 'Virtual Business Meeting for Industry-Technology Cooperation between Korea and countries of Northern Policy' from June 15 to July 16. The meeting, prepared for the post-COVID-19 era, was participated by Korea's 50 SMEs and Middle Market Enterprises with applied technologies in each industry and 40 companies from Russia and CIS with original technologies.

The event had business meetings in the areas of △Bio·Pharmacy △Shipbuilding·Maritime △New and Renewable energy and △Seafood processing.

(▶Bio·Pharmacy) Korea's company A, producing world-class MRI, discussed with Russia's company B on local production in step with Russia's import substitution policy

(▶Shipbuilding·Maritime) Korea's company B had final discussion on supplying shipbuilding equipment to a project run by a shipyard located in Saint-Petersburg, Russia's second largest city.

(▶New and Renewable energy) Korea's company C, which owns technology for producing small wind power generator, is in discussion on joint local production with a Russian company which participated in this business meeting. The two, in close cooperation, are set to enter the Eurasian Economic Union (EAEU) market, a union of five countries including Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia.

(▶Processed Seafood) The current Russian government encourages investment in seafood processing facilities as it pursues exports of processed seafood rather than seafood itself as a way to increase the added-value. Thus, Korea's company D discussed with the East Russia's largest seafood processing company on building a frozen pollack processing facility the region.

To facilitate cooperation in industry and technology, KOTRA runs 'Industry Technology Cooperation Desk' in its four overseas offices including Moscow, Vladivostok, Novosibirsk and Saint-Petersburg. In Korea, KOTRA cooperates with organizations participating in 'Korea-Russia Innovation Platform'.

Source: KOTRA (2021.07.15)

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