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Korean experts presented the first results of studies of the Primorsky Investment Climate Program under the KSP program

The experts from the Republic of Korea presented the first results of the research on the program of the exchange of experience of KSP in the field of economic knowledge sharing. The results were announced during a recent visit to Primorye, the governor's press service reported.

The Korean side presented the first results on the topics of the 2014 year study: proposals for improving mechanisms for supporting investment activities, creating special economic zones and territories for advanced development in Primorsky Krai, as well as improving the knowledge and skills of strategic territorial planning.

Experts note that foreign investment incentives that are used in the Republic of Korea are identical to those indicated in the Investment Strategy of the Primorsky Territory. However, the Korean side believes that when determining the objectives for improving the investment system and eliminating obstacles, Primorye needs to take into account the specifics of industry, as well as the investor’s nationality, to pay attention to the living conditions of foreigners.

According to the results of 2012, Korea ranks fourth in the world in terms of attractiveness for investments. Today, strategically important areas of cooperation between the Republic of Korea and the Primorsky Territory are assembly production, agriculture and tourism.

As reported in the Department of Economics and Strategic Development of Primorsky Krai, analyzing the investment strategy of the region, Korean experts noted that the main focus was on the transition from public investment to private. The region plans to attract more investments by creating tax incentives, improving administrative support, eliminating barriers, reducing the time of registration, improving the efficiency of the work of responsible employees. Korean colleagues consider this approach to be correct, and they intend to evaluate the success of the strategy after a detailed analysis, and also offer their options for completing strategic goals.

The Knowledge Exchange Program was initiated by the Ministry of Strategy and Finance of the Republic of Korea and is being implemented with the participation of Kukmin University and other scientific and expert organizations.

In Vladivostok, the Korean side was represented by the Director of the Institute of Eurasia, Professor Kukmin University Kang Yong-Hee, professors and researchers of the Institute of Eurasia of the University of Kukmin, specialists of the KOTRA office in Vladivostok.

Experts noted that Primorye needs to broaden itself, conduct round tables and seminars with managers and responsible employees of enterprises that have invested in the region.

The Consul General of the Republic of Korea in Vladivostok, Mr. Li Yang Gu, also attended the meeting. He noted that the KSP Program is reaching a higher level and, thanks to its successful implementation in 2013, three more regions of the Far East participate in the exchange of experience and knowledge with the Republic of Korea.

At the end of the report, Korean experts interviewed representatives of business and experts from Primorsky Krai. The opinion of experts will be taken into account when the Korean side prepares the final proposals on the research areas.

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