The Republic of Korea as Russia’s Largest Economic Partner in East Asia: Potential for Cooperation and Future Plans

Abstract

The Republic of Korea is among of Russia’s three largest trading partners in Northeast Asia, the other two being China and Japan. Diplomatic relations with the Republic of Korea were established in 1991, which resulted in rapid growth in mutual trade based on mutual interests within a wide framework of signed agreements. In addition to trade, investments, and high technology, Russia collaborated with the Republic of Korea as part of the Russia - Republic of Korea - DPRK triangle. Negotiations on trilateral agreements with Moon Jae-in, president of the Republic of Korea since 2017, appear to transition from confrontation to cooperation with North Korea. These initiatives might alleviate the tension on the Korean peninsula and strengthen the collective security system in East Asia. Aim. The present study analyzes the bilateral cooperation between Russian and the Republic of Korea, as well as the position and role of the Republic of Korea in boosting Russian science and technology, thus predicting possible combinations of bilateral and trilateral cooperation between the two countries. Methods. The study uses scientific methods of cognition, expert assessment, and actual data on the scope and dynamics of cooperation between Russian and South Korean. Results. The study results prove that the Republic of Korea plays a significant role in Russia’s transition toward an innovative model and in normalizing relations between North and South Korea.