Representatives of the Development Corporation of Sverdlovsk Region and the Korean International Trade Association (KITA) reached an agreement to sign a memorandum at the International Industrial Exhibition Innoprom-2018 during the KITA’s business visit to Ekaterinburg.
“The memorandum is important for both parties. We have negotiated the format of cooperation and specific actions to strengthen business relations of the Republic of Korea and the Sverdlovsk Region. We will fix our agreements by signing a memorandum at the Innoprom-2018. This will be a reference point for new investment projects and joint ventures in the Middle Urals,” said Deputy General Director of the Development Corporation of Sverdlovsk Region Nikita Koskevich.
The purpose of the visit was to prepare for the INNOPROM-2018 Exhibition, develop a program of business events and investment tours to the industrial sites of the Sverdlovsk Region.
Korea is a partner country of the show in 2018. KITA is responsible for filling the show program, including the Russian-Korean Industrial Forum, attracting speakers, and arranging interactions with the Korean business on behalf of Korea.
The KITA delegation was headed by Deputy Managing Director Mr. Yong Suk Jo. The Korean guests met Minister of International and Foreign Economic Relations of the Sverdlovsk Region Vasily Kozlov, visited the industrial enterprises of the region, and discussed cooperation in the field of investments with the Development Corporation of Sverdlovsk Region.
The Development Corporation of Sverdlovsk Region arranged technological tours to the production sites of the region within the framework of the INNOPROM-2017 program for the first time. The event aroused great interest, so it will be arranged within the INNOPROM-2018 too with the support of the exhibition operator – Formika.
The KITA delegates visited SVEL Group and the Ural Plant of Civil Aviation. Both companies will be on the program of business tours during the INNOPROM-2018.
Anton Tugolukov, Deputy CEO of SVEL, one of the leading Russian manufacturers of electrical equipment, said that the company had already developed good partnership relations with the Korean business. So, the Korean Hyundai supplies complex components for transformers to the company. Currently, SVEL is preparing to launch a line of new types of transformers and keen to involve Korean manufacturers.
Representatives of KITA noted a high level of technical equipment of the SVEL production and its compliance with the global quality and safety standards.
At the assembly site of the Ural Plant of Civil Aviation, representatives of the plant made a presentation of the passenger aircraft L-410 production and talked about plans to establish an aircraft building and repairs cluster on the basis of the Ural Plant of Civil Aviation. The Ural Plant of Civil Aviation also produces light-duty training aircraft and unmanned aerial vehicles.
The Korean delegation participants noted the high demand for civil aviation aircraft L-410 used for the majority of the regional transportation in South Korea.