Russian Minister of Industry and Trade Viktor Khristenko traveled to Seoul to meet with Minister of Knowledge Economy Choi Joong-Kyung and sign a memorandum of understanding that will cement the strategic partnership between the two nations.
The MOU addresses three main areas: industrial technology, technology standards, and trade and investment. With the shared goal of attracting private investment in the commercialization of jointly developed technologies, the two countries outlined plans to collaborate on parts and materials, nanotechnology, machinery and aeronautics, information technology, renewable energy and energy efficiency. The MOU also sets the stage for both countries to utilize Korea's strength in automobiles, shipbuilding, electronic appliances and steel. The two countries will pursue joint marketing activities, hold joint seminars, and organize exchange programs for skilled personnel.
The two Ministers expressed the common view that the MOU represents a substantial step forward. In 2008, the national leaders of Korea and Russia agreed to elevate what was then called a comprehensive partnership and established the current strategic cooperative partnership. They also agreed to expand cooperation between the Ministry of Knowledge Economy and the Ministry of Industry and Trade of the Russian federation.
