KOTRA Hosts Korea-Russia Industry and Technology Cooperation B2B Consultation Meeting

[Asia Economy Reporter Suyeon Woo] KOTRA announced on the 8th that it has been holding the 'Korea-Russia Industry and Technology Cooperation Online Consultation' from the 22nd of last month to the 9th of this month.

This consultation, prepared for the post-COVID-19 era, involved 30 Russian companies possessing core and applied technologies and 40 Korean small and medium-sized enterprises (SMEs) and mid-sized companies. Active consultations took place in key cooperation fields between Korea and Russia, including smart farms, aerospace, robotics, and pharmaceuticals and bio sectors.

KOTRA held the 'Korea-Russia Industry and Technology Cooperation Online Consultation' from the 22nd of last month to the 9th of this month. Domestic participating companies and overseas buyers are conducting consultations online. Photo by KOTRA

First, in the smart farm sector, Korean company A provides Russian company R with smart greenhouse construction technology and know-how for cultivating pine seedlings suitable for the Russian climate in the form of a 'total solution.' Additionally, A expects technology transfer and equipment exports to Russia.

In the aerospace sector, Korean company B and Russian company C signed a Memorandum of Understanding (MOU) related to 'ultra-small satellite space debris disposal technology.' In the robotics field, company D, which manufactures fish robots for water quality measurement, agreed to jointly conduct research and development (R&D) with a Russian research cluster. They plan to develop new products by combining Korean manufacturing technology with Russian software technology.

In the pharmaceutical sector, Korean company E, which possesses patient oral nutritional supplement production technology, has started discussions with a leading Russian pharmaceutical company for local production in Russia.

KOTRA has been operating 'Industry and Technology Cooperation Desks' at four Russian trade offices, starting with Moscow in April 2019, to promote industrial and technological cooperation between Korea and Russia. Domestically, it collaborates with institutions participating in the 'Korea-Russia Innovation Platform.'

Kwon Pyung-oh, President of KOTRA, stated, "We will actively support our companies to successfully enter the supply chains within the New Northern Policy countries by utilizing the Korea-Russia industry and technology cooperation platform established by KOTRA."