RDIF and KIC launch Russian-Korean Investment Platform
Seoul, November 13, 2013 – The Russian Direct Investment Fund (RDIF) and the Korea Investment Corporation (KIC) have signed a memorandum to form the Russian-Korean Investment Platform. The signing ceremony took place in the presence of Russian President, Vladimir Putin, and Korean President, Park Geun-hye, in Seoul.
The investment platform will focus on cross-border investments which fulfill Russian-Korean strategic interests. The parties intend to invest in companies and projects that facilitate trade and encourage investment cooperation between the two countries.
Kirill Dmitriev, CEO of RDIF, said:
"Since 2009, direct investment from the Republic of Korea to the Russian Federation has declined by roughly six fold. I am confident that the creation of the Russian-Korean Investment Platform will help to reverse this trend and act as a catalyst for strong growth in investment flows between our two countries and strengthen economic cooperation."
Lee Dong-Ik, CIO of KIC, said:
"Today Russia is the 11th largest trade partner of the Republic of Korea with a proportion of about 2.1% of our trade. There are over 1,200 Korean companies with capital invested in Russia. The launch of this joint investment platform will provide additional opportunities for businesses from both Korea and Russia to further develop these relationships."
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. RDIF’s management company is a 100 per cent subsidiary of Vnesheconombank. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Additional information is available at www.rdif.ru.
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