KITA News and Reports
  • Governor of Moscow Visits Korea, KITA Held ‘ The Moscow Region: Business-friendly Market with Promis

          Governor of Moscow Visits Korea, KITA Held The Moscow Region: Business-                    friendly Market with Promising Opportunities for Korean Companies ’ 


    - Need to find success stories of Korean companies who took advantage of the benefits of investing in Moscow -


    The Korea International Trade Association (Chairman, Kim Young-joo) hosted ‘The Moscow Region: Business-friendly Market with Promising Opportunities for Korean Companies’ by invited the delegation headed by Governor of Moscow on November 23, Thursday, at Trade Tower, Samseong-dong, Seoul.


    Major figures of the government, including Governor of Moscow, Deputy Governor of Moscow, Minister and Vice Minister of Investment and Innovation Department and  president of Development Corporation participated in the event. The event introduced promising business areas and investment environment for Korean companies wishing to enter into the Russian market. Also, there were presentations on the cases of Korean companies who have successfully entered into the market.
    Governor of Moscow State attended the following session and participated in one-on-one consultation in person and explained the customized business opportunities for Korean companies and listened to the difficulties.


    Some 200 small and medium-sized enterprises, including not only large-scale EPC and construction companies who want to participate in construction and plant projects in the Russian metropolitan area, but also those small and medium-sized companies seeking to develop new markets with their superior technology and quality took part in the event. The resident population of Moscow metropolitan area, including Moscow state, has a huge market of 30 million people, which is takes up 20 percent of Russia's total population. As the region’s consumption and purchasing power also reach one-third of the total population, the participants who are looking for Next China expressed great interest and enthusiasm.


    Governor of Moscow Andrey Vorobiev mentioned, "There is a need to benchmark the success of KOYA's entry into local markets. The company produces localized instant noodles that are greatly loved by Russians." He also stressed the high possibility of the area as a base for expanding businesses to Europe and CIS by stating, "LG Electronics has a production base at Ruza in Moscow state and the company exports refrigerators, washing machines and TVs to CIS and European countries."


    Kim Geuk-soo, head of International Affairs Group at KITA said, "The Russian market is attractive as an alternative to the existing main market." He also added "Bilateral cooperation between Russia and Korea will expand as Russia is also actively developing its own infrastructure and strengthening industrial competitiveness and providing a variety of incentives for Korean companies.


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