Address by

H.E Mr. Gleb A. Ivashentsov

Ambassador of Russia

to the Republic of Korea

at the Ceremony of

the "Order of Friendship"

presentation to the citizens of

the Republic of Korea

Mr. Kim Ssang Soo and

Mr. Keum Byong Joo

(Seoul, December Is1 2006)

Ladies and Gentlemen,

Dear friends,

I am glad to welcome you at the Embassy of Russia today. We gathered on a solemn occasion. President V.V.Putin of Russia has granted two notable representatives of the Republic of Korea business world, Mr. Kim Ssang Soo, the vice-chairman and CEO of the LG Electronics company, and Mr. Keum Byong Joo, the president and CEO of the LG International Corporation, with state awards of Russia - Orders of Friendship.

The relations between Russia and South Korea today are steadily rising to the level of comprehensive and trustful partnership. Such relations are based not only on similarities in our vision of the modem world but also, what is more important, on great number of projects which are put into practice jointly by Russians and Koreans.

As we all well know no projects come up by themselves. Each initiative, each common enterprise is to be backed by specific agencies, specific firms and specific people.

The LG Group and the CEOs of its two leading companies, LG Electronics and LG International, Mr. Kim Ssang Soo and Mr. Keum Byong Joo, are among the pioneers of the Russian-Korean trade and economic cooperation.

Mr. Kim Ssang Soo was one of the initiators of the LG Electronics entering the Russian market, thus having made life of millions of Russian families more comfortable. But there is more to that. He has personally contributed to the company's decision to start a full scale enterprise in the Ruza district of the Moscow region with investment over $ 100 million. In April 2006 the production of TV-sets, washing machines and refrigerators (over 1 million pieces per year) was started. The project created over 2,5 thousand jobs for the people of Russia.

The international trade, however, can be effective only when it is a two-way traffic. And while the LG Electronics was promoting South Korean household and electronic goods in the Russian market the LG International did the same for the Russian produce, mainly of the aviation industry, in South Korea.

Mr. Keum Byong Joo was among the promoters of Russian aircraft imports to the Republic of Korea. Over 50 civilian helicopters (KA-31 and Ansat) and 23 training airplanes (IL-103) were delivered to different agencies in South Korea through his personal endeavour. Aiming at broadening of imports from Russia the company has used its resources to build an Aviation Service Center capable of basic repairs of helicopters and airplanes with participation of Russian experts.

It is a great honor for me to carry out the mission entrusted by President V.V.Putin of Russia and to present Mr. Kim Ssang Soo and Mr. Keum Byong Joo with the Orders of Friendship.

I heartily congratulate you with the awards.

I wish all the best to you, your near and dear ones, as well as your Colleagues of the LG Electronics and the LG International.

I also wish new success to the LG Group, an outstanding actor of the Russian -South Korean partnership.

I hope that other leading business groups of the Republic of Korea will follow the LG example in working with their Russian partners.