Business news
S Korean business shows interest in road construction projects in Belarus
MINSK, 31 January (BelTA) – Several South Korean companies are interested in joint projects in road upgrade and construction with Belarusian partners, Ambassador Extraordinary and Plenipotentiary of Belarus to Korea Andrei Popkov said in an interview to the Konyunktura Rynkov [Market Trends] magazine, BelTA has learned.
“South Korean business shows interest in infrastructure projects through public-private partnership in Belarus. Several companies that are part of large financial-industrial groups, have already prepared feasibility on the implementation of road upgrade and construction projects jointly with Belarusian partners,” Andrei Popkov said.
According to him, if these infrastructure projects are implemented, the business of the Republic of Korea would be able to acquire useful experience in Belarus, necessary for balanced decision-making on cooperation in other areas and granting Belarusian partners access to advanced technologies and financing.
The diplomat noted that the Republic of Korea is a promising yet difficult partner for Belarus. Having no abundant natural resources, the two countries are focused on manufacturing, high technology and robust foreign trade. “This creates a basis for mutually beneficial trade and for competition in some commodity markets in Eurasia,” the diplomat said.
According to the ambassador, in January-October 2018 the mutual trade between the two countries made up $135.4 million, up 3.1% from the same period a year earlier.
In January-October 2018, Belarus exported $33.4 million worth of goods, slightly less than in 2017. “This year the established ties make it possible to expect a recovery in the growth of supplies of traditional Belarusian products to South Korea,” said Andrei Popkov.
In January-October 2018 the export of Belarusian services exceeded $17.2 million, almost 40% up year-on-year. Computer and information services accounted for more than $9.3 million.
"In this context, I would like to mention the SK hynix R&D software center in the Belarusian Hi-Tech Park. SK hynix is the world’s leading producer of microcircuits and memory systems. This center alone contributes $6-7 million to the export of computer services to the Republic of Korea,” Andrei Popkov said.
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