S.Korea, Russia to boost economic cooperation

South Korea and Russia agreed to boost bilateral economic cooperation in fields such as trade, investment, energy and science technology, South Korean officials said on Thursday.

The agreement was reached on Thursday between South Korean Finance Minister Kwon O-kyu and Konstantin Pulikovsky, head of the Federal Service for the Oversight of the Environment, Technology and Nuclear Management, in Seoul.

The two sides agreed to sign a memorandum of understating on investment and trade within this year, said the Ministry of Finance and Economy.

The two sides also vowed to accelerate the implementation of an action plan agreed upon in last November between the leaders of the two countries.

During last November's APEC summit in South Korea's Busan city, South Korean President Roh Moo-hyun and his Russian counterpart Vladimir Putin agreed to actively pursue projects for the linkage of the Trans-Siberian and Trans-Korean railways and the construction of pipelines for the delivery of Russian oil and gasoline to the Korean Peninsula.

The two leaders also agreed to boost economic cooperation, and jointly develop oil and natural gas fields.

Source: Xinhua