RDIF, Taihan Electric Wire and KIMS UBQ agree on cooperation in the telecommunications industry
Press release, 12.09.2018
Vladivostok, September 12, 2018 - The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of the Russian Federation, and leading Korean telecommunications companies Taihan Electric Wire Co. and KIMS UBQ Co. have agreed on a joint investment in Russian and Korean telecommunications projects. A corresponding agreement was signed today on the sidelines of the meeting between Russian President Vladimir Putin and the Prime Minister of the Republic of Korea, Lee Nak-yeon, during the Eastern Economic Forum.
In accordance with the agreement, the parties will conduct a joint search for investment projects in the Russian and Korean telecommunications sectors. The search in Russia will focus particularly on the country’s far eastern regions.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"Joint investments by RDIF and our Korean partners will positively affect the further development of the Russian telecommunications industry. Thanks to cooperation with these leading Korean technology companies, we will be able to access the best international experience in implementing the latest communication technologies."
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133