An investment environment has been created for more South Korean firms to advance into Russia.
 
Seoul's Finance Ministry said that working-level talks on bilateral investment were held in Moscow with the two sides discussing improving the business investment environment and how to support entry into each other’s markets.
 
Seoul and Moscow also agreed to launch an investment promotion working group jointly chaired by vice minister level officials from each side and hold its first meeting in February.
 
They also agreed that South Korean firms can join a high-level committee in Russia that takes part in policy making decisions for the Moscow government.
 
Under the agreement, starting next year, three to five South Korean firms doing business in Russia that have been recommended by the Seoul government will be able to join the committee's plenary meetings and working group activities.
 
The Finance Ministry said it will select the firms and notify Moscow by mid-January.