Partnership between South Korea and Russia to Go Along “Nine Bridges”

Partnership between South Korea and Russia to Go Along “Nine Bridges”

The government of the Republic of Korea plans to bolster its cooperation with Russia over the so-called nine bridges of partnership, which encompasses rail transport, energy industry, shipbuilding, gas industry, seaports operation, agriculture, marine sector, industrial areas, and Arctic exploration. This is reported by TASS quoting a statement by Hong Nam-ki, South Korean Deputy Prime Minister and Minister of Economy and Finance.

According to the official, South Korea has to bend every effort to make headway in the Regional Comprehensive Economic Partnership and Free Trade Agreement with Russia. The countries also aim at creating a model for mid- and long-term cooperation with Central Asian states, including Mongolia, and at establishing a zone of bilateral and multilateral free trade.

As early as in 2017, Seoul announced its intention to focus on exploring new frontiers of partnership with Moscow and to implement the New Northern Policy. That year, it was President Moon Jae-in who unveiled the plan. In 2018, trade between the two countries amounted to almost USD 25 bn. According to experts, the dynamics of trade between Russia and South Korea remained positive last year.

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