South Korean President Moon Jae-in visits Russia on June 21 for a summit with Russian President Vladimir Putin. Their summit is likely to focus on practical economic cooperation between the two countries and trilateral economic cooperation among the two Koreas and Russia.
“Russia’s New Eastern Policy and South Korea’s New Northern Policy have a lot in common and, in this context, South Korea and Russia are very important partners for each other,” the South Korean president remarked.
He also said during an interview on June 20 that the trilateral economic cooperation can start from railway, gas and electricity. “Once the two Koreas connect their railways to each other and then to the Siberian Railway, goods can be transported from South Korea to Europe by train, which will be a great economic boon for each of the two Koreas and Russia.”
Moon also said, “In addition, participation in Russia’s Energy Ring Project will allow electricity produced by Russia to be sent to the two Koreas and Japan, laying the foundation for common prosperity in Eurasia.”
He also referred to the South Korean government’s Nine Bridge Strategy. The Seoul government plans to implement this strategy in conjunction with Russia’s Far East Development Strategy. It calls for cooperation with Russia in the nine sectors of gas, railway, port, electricity, the North Pole Route, shipbuilding, job creation, agriculture and fisheries.
“I believe economic cooperation between South Korea and Russia has just begun and has huge potential. I will do my utmost to ensure that the summit with the Russian president bears fruit.”