South Korea and Russia ink MoU on industrial cooperation

On May 2, South Korea's Ministry of Knowledge Economy announced that Russian Minister of Industry and Trade Viktor Khristenko and South Korean Minister of Knowledge Economy Choi Joong-Kyung  have signed a memorandum of understanding (MoU) in Seoul for a strategic partnership between the two nations.
 
The agreement addresses three main areas: industrial technology, technological standards, and trade and investment. With the shared goal of attracting private investment in the commercialization of jointly developed technologies, the two countries outlined plans to collaborate on parts and materials, nanotechnology, machinery and aeronautics, information technology, renewable energy and energy efficiency. The agreement also sets the stage for both countries to utilize South Korea's industrial know-how in automobiles, shipbuilding, electronic appliances and steel. The two countries will pursue joint marketing activities, hold joint seminars, and organize exchange programs for skilled personnel.