On December 2, the 5th meeting of the Russian-Korean Business and Investment marking the 30th anniversary of the establishment of diplomatic relations between Russia and the Republic of Korea was held in Seoul. The event was hosted by the Russian Agency for Strategic Initiatives, the Korean Chamber of Commerce and Industry, the Korean Trade and Investment Promotion Agency (KOTRA) and The Presidential Committee on Northern Economic Cooperation.

The meeting of the council was hold in on-offline format with the participation of more than 100 representatives of public and state organizations of both countries. Russian and South Korean representatives made informative reports at the conference.

Mr. Artem Avetisyan, co-chairman of the Council, suggested to consider of an informal bilateral club of entrepreneurs and emphasized that establishment, “sharing experience on getting over the crisis caused by the coronavirus pandemic and best practices of adapting business to new conditions will give an additional impulse to business relations.”

Professor of Hanyang University Mr. Eum Ku-Ho spoke about further effortsto strengthen mutual trust through the development of economic interaction in international political and economic environment, which is getting more and more complicated. In this context, the well-known Russian studies expert emphasized that "the significance of the New Northern Policy of the South Korean government, as a strategy to ensure mutually beneficial economic cooperation between Russia and the Republic of Korea, will keep increasing irrespective of political situation."

Mr. Alexander Zheltov, General Director of Educate Online, shared his experience of how a Russian company during a pandemic was able to create an online platform to help children studing in selected foreign schools and receive respective state diplomas without leaving a country. A company’s director announced plans to open a branch office in South Korea in the near future.

Mr. Roman Vasiliev, CEO of the Russian company Z-Union, spoke about the development of a system for diagnosing coronavirus on CT using artificial intelligence. The technology allows not only to calculate the degree of lung damage, but also to speed up the recovering process.

Mr. Alexander Masaltsev, Trade Representative of the Russian Federation in the Republic of Korea, made a welcoming speech and emphasized, that "high technologies, innovations, transport, logistics, agriculture, shipbuilding and energy are the priority areas of bilateral cooperation”. He also noted the important role of the Russian-Korean Business and Investment Council in expanding cooperation in these areas.