The path to the sacred dodjans

How much was invested by Korea arrived in economy of the Republic of Tatarstan over the past 10 years? Answer: zero. Is successful Tatarstan satisfied with it? Answer: No, it is not. In 2016, a great deal of work has been done by Tatarstan Investment Development Agency for to the first Korean investor to appear in Tatarstan and business contacts for succeeding businessmen from the "Land of the Morning Calm" to be created. The Agency achieved the goal to obtain the first analogue of Korean "dodjan" (personalized stamp in the form of signature) - the signature on investment agreement - and would not stop there.

The Korean Embassy opens its doors

"We started with the presentation of investment potential of Tatarstan at the Embassy of the Republic of Korea in Russian Federation on December 17, 2015.  In the framework of the fourth quarterly meeting of Korean businessmen, the Korean entrepreneurs got acquainted with working conditions of investors in Tatarstan. Then question-answering discussion and a number of personal meetings with the management of individual companies were held", - Taliya Minullina reminds. Thus, the interest proved to be mutual, and the desire of Korean entrepreneurs to develop business in Russia was greeted with open Tatarstan.

The visit to the "Asian Tiger"

Consolidation of reached agreements was supported by preparations the Agency led for the visit of the delegation of the Republic of Tatarstan to Korea.

In the period March 28 to 30, 2016, the working visit to South Korea was held by the representatives of the Republic of Tatarstan, chaired by the Head of Tatarstan Investment Development Agency Taliya Minullina. The delegation included the representatives of ministries of priority brunches, including industry and trade, information technologies and communications, agriculture.

During the working visit, the negotiations with Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Korea Alexander Timonin, Trade Representative of the Russian Federation in Korea Mikhail Bondarenko, first Deputy Minister of Industry, Trade and Energy of South Korea Mr. Ale Kwan Seop took place, the meetings with representatives of business-community were held, also Taliya Minullina visited industrial sites of a number of large holdings in Seoul, Ulsan and Daejeon. "Korean companies hosted us with encouragement, tried to see into our proposals for implementation of investment projects. It is hard to admit, but it is definitely our fault that we have no investments from South Korea. They are ready, and the potential is great. We have to be more active and start serious negotiations" - admitted the Head of Tatarstan Investment Development Agency.

The first 10 millions from Korean investor in the "money box" of Tatarstan

On April 2, Taliya Minullina and the Representative Director of South Korean company Apollo Co., Ltd Mr. T.G.Kwon signed an agreement on implementation of new production facilities on the territory of the Republic. ApolloCo., Ltd is the largest Korean manufacturer of full range of isolation valve and driving mechanism for oil refinery plants, petrochemical plants, power generating units and other manufacturing sectors. The products of the company are manufactured and shipped to North America, Western Europe and Middle-East countries.

The production will start with the assembly of isolation valves for petrochemical facilities. However, inhouse genuine parts which are necessary for creation of full-cycle production would eventually be produced on the Korean enterprise.

This agreement became a final part of a job, performed by the Agency jointly with Korean company and Tatarstan's enterprises. In April, the signing of documents was held in Tatarstan. In the first quarter of 2016, the company invested their first 25,2 million rubles to organize the manufacture in "petroleum" Almetyevsky Municipal District. The production launch will be held in the nearest future.

Affirmed by the president

Next events began to develop even more dynamically: in less than 3 months, the President of the Republic of Tatarstan Rustam Minnikhanov arrived on a working visit to the Republic of Korea. The working visit of the President of the Republic of Tatarstan lasted two days (June 19-20, 2016).

The President of Tatarstan held a row of top level meetings with the Prime Minister of the Republic of Korea, the Governor of Chungcheongbuk-do Province; visited a number of leading Korean companies: Samsung Electronics, Lotte Group, I-KAIST, SK Group, Hyosung Group, LS Group, Hanjin D&B Co. Lt, Kolon Group; inspected infrastructure facilities: Pangyo Techno Valley, Cheonggyecheon embankment.

Taliya Minullina presented the investment potential of the Republic of Tatarstan at the Korean-Tatarstan Business Forum,  held on June 20 at Seoul in the Korea International Trade Association conference-hall. At the conclusion of the Forum, a number of agreements was signed in the presence of the President of Tatarstan. So, the agreement with the company IOREX Co., LTD involves location of production of water-purification system. The second is agreement with a company DONG-A Electric Co., LTD on a sphere of placement of production. Also, the memorandum of understanding between the Korea International Trade Association (KITA) and Tatarstan Investment Development Agency was signed.

Korean Descent in Tatarstan

After official mission of the representatives of Tatarstan headed by the President Rustam Minnikhanov,  

from 27 till 28 June 2016, the delegation of the Republic of Korea headed by Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Russian Federation Mr. Park Ro-Byug came to Tatarstan with a reciprocal visit. The delegation included about 30 different representatives, mainly businessmen and directors general of the largest Korean companies in the field of automotive manufacturing, industry, banking and others.

Korean delegation had an intense program, including visiting the leading republican technoparks in the sphere of high technologies IT-Park and Innopolis, a round-table discussion with participation of Tatarstan and Korean companies in republic’s Chamber of commerce and industry, B2B meetings, business lunches, entertainment program, as well as the meeting with the President of the Republic of Tatarstan Rustam Minnikhanov.

Inextricable link of business, sport, cultural events

On 4 December, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Russian Federation Park Ro-Byug will visit Naberezhnye Chelny. On this occasion, a number of events will take place in the city: VIIth Cup of the Ambassador Extraordinary and Plenipotentiary of the Republic of Korea, Korean film screening and a concert of Korean and Tatar traditional music. Taekwondo team competitions will take place with the participation of 120 sportsmen. In the framework of entertainment program, the drama "Grandmother Gye-Choon" in Korean with Russian subtitles will be shown to citizens of Naberezhnye Chelny, the concert of Korean and Russian music with participation of Korean ensemble of drummers "ARASA" and Tatar dance theater "Bulgars".

Striking example of projects realization

Launching of green onion production, planned in the republic, is among the main projects to be implemented in Tatarstan with participation of Korean investors. Tatarstan's citizens expressed their interest in the project during the visit of the delegation in the Republic of Korea. It was during a visit to agricultural enterprises when the representatives of Tatarstan were shown the technologies which the Koreans use in agriculture receiving a large amount of harvest of different crops, including green onion. This year 60 hectares has already been sown, next year it is planned to sow 1000 hectares. The implementation of the project will be in full blast with the beginning of an agricultural season next year.

Technological initiative

The seminar and a round of B2B meetings "Eurasian Partnership in the sphere of technology and innovations" which will be held on 13 December 2016 in Kazan will become an excellent conclusion of partnership with the Republic of Korea in the past year. At first, the forum "Eurasian Technology Initiative" was supposed to be carried out in Moscow only, but when it became known about initiative from Korean side, acquaintance with IT-city Innopolis and IT-companies of Tatarstan became the key issue. Tatarstan Investment Development Agency is an intellectual partner of facilitators of the event, which are the Embassy of the Republic of Korea in Russian Federation and KOTRA (Korea Trade-Investment Promotion Agency), and prepares an interesting program for Korean innovative businessmen.

The aim of the seminar and B2B-meetings is to provide the possibility of cooperation for Korean and Russian start-up companies, representatives of small and medium-sized businesses, as well as searching of potential future partners for cooperation in the field of technologies and innovations. The Korean Delegation, including 17 start-up companies and representatives of small and medium-sized businesses, together with 4 governmental and private agencies responsible for the questions of the policy of creative economy, will take part in this seminar and B2B meetings.

Implication of Koreans in great projects of Tatarstan

Korean National Food Corporation in accordance with approbation of Mayor of Seoul intends to participate in the management of a large-scale gross-distribution center of international standard "Agromir Kazan". Russian Government supports the project likewise.

And the decision to engage experienced experts was made at the end of 2016. It will bring mutual benefit to South Korea and Russia in general, starting, of course, with Tatarstan.

"The Korean partners went where the action is actively. We will keep up the pace on realization of new investment projects. It is South Korea that is leading in many of the world ratings in innovation and technology." - Taliya Minullina shares the plans.