Diplomatic relations between the Russian Federation (former USSR) and the Republic of Korea were established in 1990.
      Nowadays they have resolutely entered the phase of trustful comprehensive partnership. A large part in the process was played by summit meetings. Since the establishment of diplomatic relations the Presidents of two Countries met eighteen times.
      The visit of the President of the Russian Federation, Vladimir V.Putin, to the ROK in February 2001 confirmed that the relations with the ROK are given one of the priorities in the Russian foreign policy in the Asia-Pacific region. In November 2005 the working visit of Vladimir V.Putin to the Republic of Korea took place alongside with his participation in the APEC summit in Busan, and the Joint Action Plan for trade and economic cooperation was signed. Presidents of the two countries held a meeting on the sidelines of the APEC summit in Sydney in September 2007. An invitation has been extended to Mr.Lee Myung-bak, the President-Elect of the Republic of Korea to pay an official visit to Russia.
      In October 2006 the Chairman of the Government of Russia, Mikhail Ye. Fradkov, paid an official visit to Seoul. The Agreement on Technology Safeguards Associated with Cooperation in the Field of the Exploration and Use of Outer Space for Peaceful Purposes, The Agreement on Cooperation in Gas Industry and the Agreement on Mutual Visa Waiver for the Holders of Service/Official Passports were signed.
      Active parliamentary contacts between Russia and the Republic of Korea are maintained. The Russian delegation headed by the Chairman of the Federation Council of the Federal Assembly, S.Mironov, participated in the inaugural ceremony of the President of the ROK in February 2003. In 2007 the Speaker of the National Assembly of the ROK, Hon. Lim Chae Jung, paid an official visit to Russia and participated in the 15th Session of the Asia-Pacific Parliament Forum.
      In March 2007, Minister of Foreign Affairs and Trade Mr.Song Min-soon paid a working visit to Russia. In June 2007, a working visit to the ROK was made by Minister of Foreign Affairs Mr.S.Lavrov of Russia, and in August 2007 Mr.Song Min-soon visited Moscow again.
      The similarity or proximity of the approaches of Russia and the ROK to the key issues facing the international community viz. the building of an equitable multipolar world order under the central role of the UN, non-acceptance of diktat in inter-state relations, non-proliferation of weapons of mass destruction and protection of global energy security make a good basis for interaction of the two states in the UN and at other international forums.
      By this time we have formed the necessary legal basis for bilateral cooperation. The agreements on trade, investment guarantees, fishing, prevention of double taxation, cooperation in military-cum-technological sphere, cooperation in peaceful use of atomic energy, cultural exchanges etc have been signed.
      The Russia-Korea Joint Committee on Economic, Scientific and Technological Cooperation, working on the level of the two countries, Governments, includes ten industry-wise committees and subcommittees. Its 8th session was held in Moscow in December 2007. To cooperation of the two countries on land and on sea, the cooperation in the outer space has been added. The relevant Inter-Government agreement was signed in 2004. The first South Korean cosmonaut will be sent into outer space by a Russian spaceship in April 2008.
      The trade between Russia and ROK is expanding progressively. By the end of 2007 it has increased by 53,7% reaching US$ 15.065 billion (in 2006 - US$ 9.8billion). The Russian export has reached US$ 6.977 billion (an increase by 52,6%) and import – US$ 8.088 (65,2%). Russia is the 10th largest trade partner of the ROK. However it is the trend, not the absolute numbers that is important. The successful realization of Joint investment projects, first of all, in energy, petrochemistry, automobile industry, etc. will allow to significantly increase mutual trade.
      With all this one should not take Russia as only a raw materials’ supplier for the ROK. For example, more than a third of all civilian helicopters used in the ROK were made in Russia. Quite a number of commercial contracts on joint scientific research and design as well as on production of Russian-licensed high tech goods in ROK are under negotiation.
      The volume of direct South Korean investments into Russian economy has overpassed US$ 501.6 mln. in 691 business projects by now. The participation of South Korean automobile companies in joint ventures in Russia is under discussion.
      In July 2005 the law on “The Special Economic Zones in the Russian Federation” was adopted. It stipulates favorable taxation conditions and investment climate. South Korean partners are invited to start their businesses in those zones.
      The Joint Russian-Korean Action Plan was approved during the working visit of the President of the Russian Federation Vladimir V.Putin to the Republic of Korea in November 2005. The Plan covered all the spheres of bilateral political, economic, scientifical-technological and cultural cooperation. Availability of such a plan helps to keep clearer track of the implementation of bilateral agreements and joint projects.
      The Energy dialogue which is to determine the directions of joint work in the energy sector and to strengthen regional cooperation in this sphere in the North-East Asia holds a special place in that plan. It means a broad interaction including gas, petroleum and coal industries as well as a peaceful use of nuclear energy.
      In 2012-2013 Russia plans to begin supply of natural gas to the Republic of Korea in the volume of 10 billion cubic meters per year. More than a 30-year long Contract on the Russian gas supply is envisaged to be signed in future.
      Besides, an agreement has been signed between the Kogas and the Sakhalin Energy company developing natural gas fields on the Island of Sakhalin covering annual supplies of 1.5 million tons of liquefied gas to the Republic of Korea for a 20-year period starting from 2008.
      The Russian-South Korean consortium with participation of the Rosneft aimed at exploration and development of petroleum and natural gas resources on Kamchatka Peninsula continental shelf has started its work.
      As for the nuclear energy cooperation based on the Inter-Governmental Agreement dated May 28, 1999, it stipulates supply of the low-enriched uranium and it’s enrichment services; designing and building of small and medium capacity reactors for the floating nuclear power plants and sea water desalination plants and etc. These days 37% of the requirements of the Republic of Korea in nuclear power plant fuel are covered with supplies from Russia.

      During the visit of Mikhail Ye. Fradkov both sides confirmed their willingness for development and implementation on continuous basis of bilateral and multilateral cooperation projects in the spheres of space research and development, transportation, automobile industries, petrochemical industry, information technologies, peaceful use of nuclear energy, small and middle-scale business.
      The continuation of military-technological cooperation between the two countries was also confirmed. President of Russia, Vladimir V. Putin marked that “trustworthy and benevolent relations between Russia and the Republic of Korea are of course based on similarities in our vision of the modern world. But what is the most important, it is Russians and Koreans working together on a vast amount of initiatives”.