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Sakha Republic seeks Korean involvement in resources development

Sakha Republic’s delegation, led by President Egor Borisov, wrapped up its three-day trip to South Korea on Tuesday.

Accompanied by 40 government and industry officials, Borisov came to Korea on Sunday to promote Sakha Republic’s economic projects including those involving natural resources development.

Taking up about half of Russia’s Far Eastern Federal District, Sakha Republic is the world’s largest sub-national governing body.

The republic has rich mineral resources including coal, diamonds and gas. In particular, about a quarter of the world’s diamond output is from Sakha Republic.

As part of the trip, Borisov and the delegation, including the republic’s Deputy Prime Minister Aleksey Struchkov and ministers of foreign affairs and tourism, organized a forum to promote the republic’s mineral resource development projects.

Organized in collaboration with Korea Trade-Investment Promotion Agency, about 150 Korean companies including LG International Corp., Korea Resources Corp., Korea Gas Corp. and Samsung C&T Corp. took part in the event.

At the event, Sakha officials introduced the many resource-related projects the republic has underway.

Along with the republic’s natural resource projects, Sakha Republic officials also introduced the country’s education and tourism projects to Korean industry officials, the KOTRA said.

KOTRA said that the event could act as an opportunity for Korean companies to turn their attention to the Sakha Republic, where their operations have been very limited.

According to KOTRA officials, to date LG International Corp. is the only Korean company to have entered the Sakha Republic market.

By Choi He-suk  (cheesuk@heraldcorp.com)
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