KOTRA Operates Korean Pavilion at Russia International Shipbuilding and Marine Exhibition

Consultation Meeting and Forum Held with Korea Shipbuilding & Offshore Equipment Industrial Cooperative

Photo by NEVA 2021 homepage

[Asia Economy Reporter Kim Heung-soon] KOTRA operated the Korean Pavilion at the international shipbuilding and marine exhibition 'NEVA 2021' held in Saint Petersburg, Russia, in collaboration with the Korea Offshore & Shipbuilding Equipment Association (KOMEA), the organization announced on the 23rd.

The NEVA exhibition, which KOMEA participated in offline overseas for the first time since the COVID-19 pandemic, is Russia's largest shipbuilding and marine industry exhibition held biennially. This year, nine domestic shipbuilding and marine equipment companies participated, showcasing a variety of products including shipbuilding and marine plant equipment and eco-friendly equipment starting from the 21st.

As large-scale liquefied natural gas (LNG) projects in Russia are being actively ordered, demand and interest in Korean shipbuilding equipment are increasing. This exhibition was planned to strengthen cooperation between Korean and Russian shipbuilding equipment companies and to support smooth market entry for our companies into the Russian shipbuilding and marine market by promoting various side events such as export consultation meetings.

During the exhibition, KOTRA and KOMEA jointly held the 'Korea-Russia Shipbuilding Equipment Cooperation Seminar' with Russia's United Shipbuilding Corporation (USC) for the second time since 2019. Additionally, local buyers centered around Russia's USC and domestic shipbuilding equipment companies exchanged information about both countries. The one-on-one export consultation meetings held alongside the exhibition involved about 20 major Russian buyers and 12 domestic shipbuilding and marine equipment companies.

Currently, Russia is building ships in cooperation with our large shipyards and discussing various projects, establishing a foundation for domestic shipbuilding and marine equipment companies to enter the market.

Lee Jung-hoon, Head of KOTRA's Commonwealth of Independent States (CIS) Regional Headquarters, said, "Through this offline event held after a long time, we were able to confirm the cooperation demand from Russian companies," adding, "We hope that business with Russian shipbuilding and marine equipment companies will expand as a result of this consultation meeting."