Seoul now ranks as Moscow's second most important economic partner in the Asia-Pacific region, increasing its trade with Russia and investing in various sectors of the Russian economy, Russian President Vladimir Putin said on Friday following the talks with his South Korean counterpart Moon Jae-in, Sputnik reports.
"During the negotiations, [the parties] have noted with satisfaction the dynamic development of the bilateral economic ties. Over the past year, the trade increased by 27 percent up to $19.2 billion. In January-April, the trade grew by another 6.5 percent. As a result, [South] Korea occupies the second place among Russia's main trade partners in the Asia-Pacific region," Putin said.
The president noted that Korean investment in Russia's economy reached $1.2 billion. There are over 150 large Korean companies working on the Russian market and investing in such industries as manufacturing, food, agriculture and hotel business, Putin said.
The Russian president has also invited his South Korean counterpart to attend the upcoming Eastern Economic Forum (EEF) as a special guest, urging South Korean partners more actively engage in development projects in the Russian Far East.
"We would be glad to see the South Korean President at the EEF as a special guest," Putin said after the talks with the South Korean leader.
