Investment fund with Russia proposed
The finance minister met with President Vladimir Putin’s envoy to the Russian Far East, Thursday, after earlier proposing the creation of a massive investment fund with Russia to develop key industrial materials, parts and equipment.
Hong Nam-ki, the minister of economy and finance, held talks with Russian Deputy Prime Minister Yury Trutnev on the sidelines of the 5th Eastern Economic Forum under way in Russia’s Far East city of Vladivostok, the ministry said.
Earlier in the day, Hong said the fund could help Russia commercialize its basic science and technology for overseas sales, while South Korea could diversify import sources of key materials, parts and equipment.
“I am confident that the fund would create a new value chain that would facilitate economic cooperation in the materials, parts and equipment sectors,” Hong said in a speech to about 150 South Korean and Russian officials.