GANGWON-DO < invest Korea

According to Yonhap News,

With the increasing exchange between Gangwon Province and the Far East Russian region, the region has been emerging as Gangwon's new economic partner.

Gangwon Province said Jan. 30 that its exports to Russia and its imports from Russia recorded USD 131,112 million and USD 156.299 million, up 35.9% and 89.2%, respectively, in 2011 from a year earlier. The figures are indicator of Gangwon's increasing transaction with Russia.

Gangwon's major imports from Russia include bituminous coal and crab while its main exports to Russia are automotive components and machinery.

Along with the increasing trade volume, Russian tourists to Gangwon have dramatically increased. The number of Russians visiting Gangwon via the DBS cruise ship for the past year amounted to 8,306, up more than 1,000 from a year earlier.

Russian medical tourists have also grown more than four times to 102 from the previous figure of 22 in 2010. The province's aggressive efforts to attract medical tourists began from 2010.

The province's hosting of 2018 Pyeongchang Winter Olympics is expected to accelerate the increase in the number of Russian tourists.

The increase is driven by the province's aggressive marketing strategy starting from 2006.

Currently, Far East Russian regional economists and media are paying keen attention to Gangwon.  

From Jan. 31, a group of 18 people consisting of Russian Maritime Provincial officials, journalists and businessmen is scheduled to visit Gangwon for four days. They will visit Wonju Medical Equipment Industrial Complex, Gangreung Science Industrial Complex, Winter Olympic facilities and major tourist attractions.

If the plan on connecting tunnels for Russian natural gas to flow to Korea via North Korea is visualized, the province expects that it would lead to increasing trade and tourists and is planning to promote the plan.

Source Text

Source: Yonhap News (Jan. 30, 2012)

**This is an English translation of a Korean news article.