Friday, July 20, 2018

Sverdlovsk officials discuss cooperation with South Korea's Gyeonggi province

Sverdlovsk Regional Minister of International and External Economic Relations Andrei Sobolev met with Jeong Eui Park, the head of International Relations of the Government of South Korea's Gyeonggi province, last week to discuss the signing of an agreement of cooperation for academic and economic projects.

Expected to be signed later this year, the proposed agreement of cooperation is a continuation of mutually-beneficial programs between the regional governments, reports.

"Over the past two years the company went from Sverdlovsk business missions in Geyonggi twice," Sobolev said, according to "Sverdlovsk region is also visited by representatives of business and academia in South Korea. This indicates the high interest in cooperation. The agreement will allow us to provide companies with a legal basis for further cooperation."

In 2012, the Sverdlovsk and Gyeonggi governments signed a letter of intent to develop cooperative inter-regional programs related to academics and the production of industrial machine tools. The proposed 2014 agreement of cooperation will extend scope of those efforts into the areas of electronics, metal, power, transport engineering, medical products manufacturing and food imports.

"In terms of sanctions a relevant areas of cooperation is the food sphere, ranging from direct supply of some product groups to the organization of deep processing products," Sobolev said, reports.

During their meeting last week, Park endorsed a proposal to organize a large international conference to gather representatives Sverdlovsk and Gyeonggi manufacturers in 2015. The conference would allow industrialists from both countries to negotiate contracts with one another directly, and enhance the good-will relations among businesses in Russia and South Korea. In a separate diplomatic gesture, both parties agreed to pursue securing a twin region status between Sverdlovsk and Gyeonggi, according to

"We are very pleased with this, in our plans--to implement their programs and propose new cooperative projects of the Sverdlovsk region," Park said, reports. "We also would like to establish your region twinned."

South Korea's Gyeonggi province is the most populated region in South Korea with 11.9 million residents living within its borders. The province is home to Seoul--South Korea's capital and largest city where such high-profile companies as Samsung, LG, Hyundai and Kia are headquartered.