IMF Executive Board decides on $1.8 billion conditional loan for GreeceBusiness & Economy July 21, 3:34
Earthquake of 6.7 magnitude hits off Turkey’s western coast - seismological centerWorld July 21, 2:58
ExxonMobil launches legal challenge to finding it violated US sanctions against RussiaBusiness & Economy July 21, 1:36
Russian Knights aerobatic team to perform at Dubai airshowMilitary & Defense July 20, 21:28
Russia looks to its Navy to become world secondMilitary & Defense July 20, 19:10
ExxonMobil disagrees with US Treasury Department’s decision to assess fineBusiness & Economy July 20, 18:45
Putin signs decree on Russia’s navy policy until 2030Russian Politics & Diplomacy July 20, 18:39
Putin personally congratulates human rights champion Alexeyeva on her 90th birthdaySociety & Culture July 20, 18:20
Russian boxer Povetkin reinstated into WBO’s ratings, ranked eighthSport July 20, 18:08
SEOUL, September 7 (Itar-Tass) —— A delegation of the Kaluga region has carried out the program of its visit to South Korea, which also envisaged a presentation of its trade and economic potential, Kaluga region’s Governor Anatoly Artamonov told Itar-Tass in an exclusive interview before his fly to Russia.
“We signed an protocol of intent with the SsangYong Engineering and Construction Company, which envisages construction of a housing estate in Kaluga and I hope that within next two months we will manage to sign a relevant agreement with a facility, which is registered in the city, and will be ready to start the construction works,” the governor said.
“We have already allotted a lot of land for the purpose. It will be located in one of the best parts of the city. I am confident that the district will become the city’s ‘calling car’,” he said.
The delegation also held talks with the leadership of the Lotte and Samsung Electronics companies to discuss further joint plans for the expansion of the projects, which are jointly implemented in the Kaluga region, Artamonov said.
Apart from the presentation of the Kaluga region in the South Korean Chamber of Commerce and Industry, the guests met the leadership of the Korean International Trade Association (KITA) and with representatives of the South Korean Ministry of Innovative Economy.
Besides, the guests from the Russian region also held talks with the leadership of the Chamber of Commerce and Industry of the city of Gyeongju, which is also widely known owing to a great number of universities. During the meeting, the members of the Kaluga delegation achieved an agreement on a visit of businessmen from that South Korean city.
“They expressed huge interest in the setting up of a facility in the Kaluga region. We decided that the chamber’s leadership and representatives of the local business community will arrive in our region,” Artamonov said, giving no details pertaining to this project.
“After the presentation, we have talks with representatives of other South Korean regions,” the governor said.
The presentation was necessary to give detailed information not only about the Kaluga region, but also about its development plans, which are closely linked with an inflow of investments, including from South Korea, he said earlier.
The Kaluga region is one of Russia’s most dynamically developing territories, where such companies as Samsung (flat-screens), Lotte (confectionery) and KT&G (tobacco) have already built their plants and launched production of their goods, he said.
Currently, trade turnover between the Kaluga region and South Korea reached 240 million U.S. dollars, as compared to six million U.S. dollars in 2004, the governor reaffirmed.
“I am optimistic pertaining to the prospects for the development of cooperation between the Kaluga region and South Korea,” Artamonov told Itar-Tass.
“If such big companies, as Samsung, Lotte and others are operating in the region, then it may mean that they highly assess [the regional potential]. Other companies can come to the region, too,” he said.
During the presentation, the governor and other members of the delegation informed their Korean partners about favourable conditions, which were created there for foreign business.
The Kaluga Region is a relatively small region (29,900 square kilometres) situated on the East European Plain of central Russia between the Moscow, Tula, Bryansk, Smolensk and Oryol regions.
The Kaluga Region is a part of the Central Federal District and is in a very convenient and favourable location owing to the well-developed transportation network that is typical for this federal district. Major international highways and railway lines, e.g., Moscow-Kaluga-Bryansk-Kiev-Lvov-Warsaw, pass through the region.
Companies in the region manufacture high-tech and innovative products based on the latest technologies, e.g., turbines, gas turbine engines, various kinds of instruments, digital electronic devices, permanent magnets, automotive electrical equipment, high-precision power hydraulic systems, heavy railway track machinery, and sophisticated radar equipment. The region-manufactured products are exported to more than 80 countries. The region is also active in developing business ties with the governments and private businesses and organizations of Germany, Finland, India, the Czech Republic, Bulgaria, South Korea and other countries of the world and expanding commercial partnerships with the CIS countries.