Seoul, Moscow sign 12 MOUs, including joint statement for FTA prep

Arirang News 2018-06-23

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Staying with the summit.
The leaders of South Korea and Russia put pen to paper on a dozen deals on Friday... aimed at enhancing cooperation between the two countries across a number of fields.
Cha Sang-mi reports.
South Korea and Russia pledged to work hand-in-hand on a number of projects, including on a comprehensive trade deal.
The two governments signed twelve MOUs right after Friday's summit between South Korean President Moon Jae-in and his Russian counterpart Vladimir Putin.

The most notable was between South Korea's Ministry of Trade, Industry and Energy and Russia's Ministry of Economic Development.
They signed a joint statement to proceed with domestic steps for a free trade agreement in the service and investment sectors.
The move is expected to serve as a cornerstone to facilitate cooperation between Seoul and Moscow.


"I'm glad our two countries have started the domestic process for FTA negotiations in the service and investment sectors. We made these efforts to ensure our citizens enjoy the economic benefits and a higher standard of living."


The two countries also agreed to establish a South Korea-Russia Innovation Platform that will allow joint research and development, as well as a regional cooperation forum to exchange culture and arts.
There will also be government-level energy cooperation,... including plans to connect the two countries' power grids to save money and energy.
The two nations' sports ministries designated 2020 as a year of South Korea-Russia mutual exchange, celebrating 30 years of diplomatic relations.
Joint studies on major ICT, including 5G high-speed internet and big data,... will also be done through ICT cooperation.

Sports exchanges will be increased and the two countries will work together on improving social welfare.
Medical cooperation and the establishment of a health examination center were also agreed upon.
Cooperation between the two countries' railroad operators will foster joint development on railroads and logistics, while both sides will expand their rail links with North Korea.

President Moon completed his two-day itinerary in Moscow on Friday.
During his time in the Russian capital,... he delivered a historic address at Russia's lower chamber of parliament, met with business representatives from both countries and attended a state dinner with President Putin.
President Moon left for the airport on Saturday morning
to fly to the southwestern city of Rostov-On-Don... to cheer on South Korea in their World Cup match against Mexico.
Cha Sang-mi, Arirang News.

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