"During the negotiations, [the parties] have noted with satisfaction the dynamic development of the bilateral economic ties. Over the past year, the trade increased by 27 percent up to $19.2 billion. In January-April, the trade grew by another 6.5 percent. As a result, [South] Korea occupies the second place among Russia's main trade partners in the Asia-Pacific region," Putin said.
The president noted that Korean investment in Russia's economy reached $1.2 billion. There are over 150 large Korean companies working on the Russian market and investing in such industries as manufacturing, food, agriculture and hotel business, Putin said.
The Russian president has also invited his South Korean counterpart to attend the upcoming Eastern Economic Forum (EEF) as a special guest, urging South Korean partners more actively engage in development projects in the Russian Far East.
"We would be glad to see the South Korean President at the EEF as a special guest," Putin said after the talks with the South Korean leader.
On Thursday, Moon started his three-day state visit to Russia at Putin's invitation. The two leaders met earlier in the day to discuss the topical issues of further development of bilateral relations in the political, trade, economic and humanitarian sectors.
READ MORE: Century of the Dragon: Key Difference in How US, China Project Economic Power
Earlier this week, Russian Deputy Economic Development Minister Alexey Gruzdev said that trade and economic cooperation between Russia and South Korea was expected to receive added momentum following Moon's visit to Moscow.
READ MORE: Why Singapore? City-State Paves the Way for DPRK Economic Opportunity
