The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-Hoon, "Korea Eximbank") announced on September 3 that the Bank signed MOUs with local research institutes in East Russia to support Korean firms' investment and expansion into the region.

Korea Eximbank signed an MOU with Far Eastern Marine Research, Design and Technology Institute('FEMRI') for exploring shipping infrastructure development projects and collaboration in researches. Korea Eximbank Chairman Lee Duk-Hoon met with the head of FEMRI and signed the MOU at the institute located in Vladivostok. The scope of cooperation under the MOU includes the exchange of researchers and experts and co-hosting of academic conferences, policy conferences, seminars, etc. By signing the MOU with FEMRI, regarded as the core institution in designing social infrastructure policies of East Russia involving areas such as roads, ports, railways, etc., it is expected that Korea Eximbank will gain momentum to identify and implement infrastructure projects in East Russia.

On the same day, Korea Eximbank and FEMRI held a policy conference to discuss 'Korea-Russia Cooperation Plan for Infrastructure Development in the Far East'. In the conference, Moon Kyung-Youn the senior researcher at Research Institute for North Korea Development of Korea Eximbank presented on the 'role of Korea Eximbank in developing shipping infrastructure in East Russia'. Dr. Mikhail Kholosha the researcher at FEMRI emphasized in his presentation the importance of developing harbors and railways in the Far Eastern Russia. Also, he suggested the idea of facilitating logistics in Northeast Asia as the highest priority of the two countries, by developing a Dry Port at the junction of Vladivostok and Nahoka of TSR and modernizing TSR and the connecting road between Vladivostok and Hasan.

Prior to signing the MOU with FEMRI, Korea Eximbank signed an MOU with Far Eastern Federal University for conducting joint researches for the development of the Far Eastern Russia. Chairman Lee met with Far Eastern Federal University president Sergey V. Ivanets and signed the MOU aimed at conducting joint studies to invigorate the economic cooperation in the Far East, exchange researchers, and promote joint implementation of knowledge sharing projects.

At the signing ceremony, Chairman Lee said, "With the signing of the MOU with Far Eastern Federal University, functioning as the political, economic and knowledge hub in Northeast Asia, we have laid a solid knowledge sharing platform to facilitate trade of North Korea and Russia in the region as well as the stepping stone for multilateral cooperation in Northeast Asia.