South Korean Oceans Minister Kim Young-choon (Photo: Yonhap) |
South Korean Oceans Minister Kim Young-choon held a meeting with Alexander Galushka, Minister for Development of the Russian Far East, to discuss ways to boost joint investment in the region and signed a memorandum of understanding on marine cooperation. Under the agreement, the two sides will jointly support investment in the marine industry and establish infrastructure building in the Far Eastern region, including a seafood processing facility.
The Russian Far East covers 36 percent of the country's territory, but contains fewer than 5 percent of its population. About 65 percent of all Russian marine products come from this region, but it suffers from poor infrastructure.
