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Ministry of Economic Development of the Russian Federation and K-water signed a memorandum of understanding
The Minister for Development of the Far East, Alexander Galushka, signed a memorandum of understanding with the South Korean company K-water. This event will be the starting point in the development of joint projects in the energy and environmental sectors.
According to the minister, serious attention will be paid to the scientific and technical exchange with South Korean specialists who have extensive experience in the construction of hydraulic structures and the restoration of rivers. One of the large-scale joint ventures may be the creation of the Amur Institute on the Big Ussuri Island near Khabarovsk. It is planned that K-water will be involved in the construction and restoration of dams on the island, as well as take part in the study of the river and help in eliminating the consequences of one of the strongest floods in Russian history 2013 of the year.
The second large-scale project is connected with the construction of an energy bridge to South Korea through the territory of the DPRK. The parties agreed to start the feasibility study of this project. At the same time, as noted by Alexander Galushka, through the mediation of Russia in the project, the DPRK will also take an active part: "The North Korean partners supported the fact that the Russian side, including RusHydro, will negotiate with South Korean partners on the implementation of trilateral projects."
“I am convinced that the development of mutually beneficial economic cooperation between the three countries will contribute, inter alia, to the strengthening of peace, security and stability on the Korean Peninsula,” the minister said.
K-water was founded in 1967 year. A significant range of the company's activities is related to the development of energy based on renewable energy sources (RES) and ensuring the environmental safety of the Republic of Korea. Currently, K-water monitors the operation of 30 dams, 69 water supply facilities, and 14 industrial waste disposal facilities.