ICIE promotes the development of relations between Russian and Korean business

Vladivostok, April 13, 2018

With the assistance of the representative office of the International Congress of Industrialists and Entrepreneurs in the Asia-Pacific Region (ICIE or Congress), a Memorandum of Cooperation was signed between the Russian company “New Technologies” LLC and the Korean company CJC LED LIGHT.

Within the framework of the Memorandum, the parties reached agreements on the establishment of a joint venture, as well as the establishment and strengthening of bilateral cooperation in the creation and promotion of LED products and LED technologies.

The signing of this document, which is aimed at improving the level of economic development of Russian-Korean relations, is particularly important in the implementation of the agreements reached within the framework of the Third Eastern Economic Forum between the leaders of the Russian Federation and the Republic of Korea.

Besides, the origin of Russian-Korean cooperation in the production of LEDs in the Primorsky Territory corresponds to the state policy of the Russian Federation, aimed at attracting foreign investment in the development of the Far East.

ICIE representative office in the Asia-Pacific Region, intends to continue to assist the South Korean and Russian sides in implementing the provisions of this Memorandum, in particular in sharing experience, information, as well as with experts and delegations. The Congress is also ready to assist in coordinating marketing research, setting up joint working groups and productions in the format of joint activity agreements or ventures.