June 3, 2011

South Korea expresses interest to construct grain terminal 

South Korean investors are keen to begin a project which involves the construction of a grain terminal in the Primorsky (maritime) Territory (PT) and the establishment of the essential infrastructure needed for loading and storage of cereal.

This was pointed out on Thursday (Jun 2) during a meeting between PT Vice-Governor, Igor Uleisky and Kang Byeong-kyo, Vice-Governor for Political Affairs of the South Korean province of Gyeongsangnam-do.

Uleisky pointed out that PT is also interested in implementing joint projects in the fields of agriculture, the processing of natural resources, and the fishing industry. Shipbuilding is yet another promising area for cooperation, he added.

The Republic of Korea (ROK) is among countries which account for the bulk of PT's foreign-trade operations. In 2010, ROK's share in PT foreign trade turnover was 16%. PT foreign trade turnover with ROK grew by 90% last year as compared with that in 2009 to run at RUB1,077.1 million (US$38.6 million), with export growing by 47% to run at RUB434.9 million (US$15.6 million) and import increasing 2.4 times over to run at RUB642.2 million (US$23 million).