Economic Ties of the Russian Far East with the Korean States

DOI: 10.20542/0131-2227-2019-63-11-114-121

L. Zabrovskaya (,
The Far Eastem Branch of Russian Academy of Sciences Institute of istory, Archaeology and Ethnology (FEB RAS I), 89, Pushkinskaya Str., Vladivostok, 690001, Russian Federation 

Abstract. The article investigates the issue of trade and economic ties between the Far Eastern regions of Russia and the countries of the Korean peninsula. The reasons for the slowing of economic cooperation are revealed. South Korean business strategy is to cover a large area of the Russian Far East with small projects in order to monitor the socioeconomic processes in various areas of life on these territories. By maintaining ties with the Russian Far East, the South Korean business is tackling its tasks in confronting the challenges of globalization, and is increasing its competitiveness in rivalry with China and Japan for markets and energy resources. Remaining the second largest economic partner of the Russian Far East after China, South Korea is seeking to turn economic ties with Russian regions into an effective tool for confronting its economic rivals. For South Korean business, it is also important that Russia is able to contribute to the expansion of inter-Korean economic ties by leading tripartite economic projects. Considering the growing influence of China in East Asia and the expansion of Russian-Chinese cooperation in the field of energy, Russia needs to create a balance of economic partners by increasing cooperation with other countries of the region, in particular, with the DPRK and the ROK. This becomes relevant also because both Korean states are extremely interested in maintaining close trade and economic ties with Russia in general, and with the Russian Far East in particular. Although the volume, content and quality of these ties with both Korean states are not comparable, the significance of economic relations with each of them is important for the further development of the Russian Far East. Their value also lies in the possibility of providing technology, investment and labor. It is concluded that international economic sanctions did not reduce the interest of the Korean states in cooperation with the Russian Far East, but led to a slowdown in the development of foreign trade. 

Keywords: Russia, the DPRK, the Republic of Korea, trade and economic relations, investments 


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For citation:
Zabrovskaya L. Economic Ties of the Russian Far East with the Korean States. World Eonomy and International Relations, 2019, vol. 63, no. 11, pp. 114-121.

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