Russian Deputy Prime Minister: "We will repay the debt owed to Korea by delivering helicopters"

"Discussion with Deputy Prime Minister Hong Nam-ki in a Video Conference"
"Russian Helicopters Approved by South Korea's Ministry of Land, Infrastructure and Transport"

The Russian civilian helicopter Mi-171A2, approved by the Ministry of Land, Infrastructure and Transport last September [Image source=Russian state-owned Rostec]

[Asia Economy Reporter Lee Hyun-woo] The Russian Deputy Prime Minister stated that the debt owed to South Korea could be repaid through helicopter deliveries and that this issue was discussed in a video conference with the South Korean Deputy Prime Minister. He also added that the South Korean Ministry of Land, Infrastructure and Transport has already granted approval for the use of Russian civilian helicopters.

According to TASS news agency on the 27th (local time), Yuri Petrovich Trutnev, Russian Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District, said, "Russia can repay the national debt owed to South Korea by delivering helicopters," and "this issue was discussed in a video conference with Hong Nam-ki, South Korea’s Deputy Prime Minister and Minister of Economy and Finance." Earlier, the Ministry of Economy and Finance announced in a press release that Deputy Prime Minister Hong and Deputy Prime Minister Trutnev discussed preparations for the 30th anniversary of Korea-Russia diplomatic relations and plans to establish a joint investment fund during the video conference.

Alexander Morozov, Deputy Minister of Industry and Trade of Russia, also stated in a press release on the same day, "Russian helicopter companies such as JSC Russian Helicopters Holdings are cooperating with Korean partners interested in Russian helicopters," and that the issue of helicopter deliveries is being discussed to repay the national debt. TASS added that the South Korean Ministry of Land, Infrastructure and Transport has already approved the use of the Russian civilian helicopter Mi-171A2 domestically, and Russian-made helicopters such as the KA-32 are already operating in South Korea.

According to the press release from the Ministry of Economy and Finance, during the video conference regarding the Russian helicopter issue, the South Korean side requested that Russia designate additional parts suppliers. The Ministry of Economy and Finance stated, "We explained to the Russian side that there are concerns domestically about the excessive costs of maintenance and parts supply for Russian helicopters, and emphasized the need for active measures from Russia to reduce maintenance costs, such as designating additional domestic companies capable of maintenance and parts supply for Russian helicopters."