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Russian-Korean financial cooperation

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6 September 2017 Export-Import Bank of Korea (KEXIM) in cooperation with Far East Development Fund (FEDF) with participation of investors from the Republic of Korea can invest up to 2 bln dollars in the projects within the territory of the Russian Far East in the next three years. Such intentions have been set out in a cooperation agreement signed in the course of the Eastern Economic Forum being held in Vladivostok city. The CEO of FEDF Aleksey Chekunkov signed the document from the Russian side, and KEXIM Acting Chairman and President Hong Young-Pyo from the Korean side.

KEXIM is considering various formulas for participation in the projects – equity investments, loans and guarantees for Korean companies investing in the development of the Far Eastern projects. In turn, FEDF will assist in structuring of joint projects, attraction of Russian investors, and consider the possibility of affordable funding providing.

The parties are discussing the opportunity of joint implementation of projects in energy (including alternative energy), infrastructure (including transport), industry, natural resources-based industries, ship-building, tourism, agriculture, development of the territories. The projects with participation of Korean investors in the priority development territories, the Free Port of Vladivostok can count on KEXIM and FEDF.