(MENAFN) South Korea's exports to Russia has been weakening for quite some time, thus it's considered a high priority for it to revive the slumping exports by joining in more infrastructure development projects.
South Korean exports to Russia fell to USD10.1 billion last year from USD11.1 billion in 2013, while total shipments plunged 63 percent on-year to USD2.27 billion in the first half of the year.
Weak exports were mainly attributed to sanctions imposed by Western countries over Moscow's annexation of the Crimea, plus low international crude oil and gas prices.
Furthermore, as cars are considered S Korea's most exported item, it was affected the most; however, Minister of Trade, Industry and Energy will take part in the Eastern Economic Forum in a move to overcome this challenge.
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