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South Korean export to Russia up 61% in 2017

September 06, 2017, 14:00 UTC+3 SEOUL

South Korean import to Russia has gone up 45%

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© AP Photo/Lee Jin-man

SEOUL, September 6. /TASS/. South Korean export to Russia in 2017 increased by more than 60%, while import has gone up 45%, as of the end of July, said Lee Keun-Wha, head of the department of Russia and the CIS countries of the Korean International Trade Association (KITA), in an interview with TASS ahead of the 2017 Eastern Economic Forum on Wednesday.

"Korean cars, cell phones and construction equipment hit sales record in Russia in the first half of this year. As of the end of July, South Korean exports to Russia in 2017 increased by 61% and imports by 45%." Given that the global level of Russian exports increased in the first quarter of this year by 36%, and import by 26%, this is a very good indicator, Lee said.

"Trade between Russia and Korea is not limited to the exchange of goods," said Lee.

"Thus, the percentage of Russian medical tourists coming to Korea for treatment each year is growing by two-digit numbers since 2014, when an agreement was signed to establish a visa-free regime between our countries. Recently, Seoul has been cooperating with Moscow in such areas as the developments of "smart" transport systems, e-government, climate change, air quality improvement in large cities and a number of other areas.

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