Research On Economic Cooperation Between South Korea And Russia Under The "New North Policy"

Economic globalization and regional economic integration are two major development trends in the world today,and all countries and regions are inevitably involved.Facing the positive trend of regional economic development in Northeast Asia,South Korea has also proposed its own cooperation strategy.From Lee Myung-bak ’s “New Asia Concept” to Park Geun-hye ’s “Eurasian Initiative”,to the“New North Policy”,“New South Policy”,and “New Economic Map of the Korean Peninsula” proposed by Wen Jae-in ’s government South Korea actively follows the development trend of regional economic integration.On September 7,2017,South Korean President Moon Jae-yin proposed the "New North Policy" while attending the Third Oriental Economic Forum in an attempt to build a North Korean Asia from the Korean peninsula to the Russian Far East,and then expand to Europe through the Arctic.The vast economic region of the Asian continent focuses on the establishment of the Eurasian Economic Community through cooperation between South Korea and Russia.The practical basis of economic cooperation between South Korea and Russia mainly has three aspects: first,the two countries are located close to each other and the cooperation is convenient;second,the two countries have complementary economic advantages and broad cooperation space;third,the "New North Policy" proposed by South Korea There are many points of interest with the "New Oriental Policy" proposed by Russia.To further implement Korea-Russia cooperation in specific fields,South Korea proposed the "Nine Bridge Strategy" and received a positive response from Russia.The two sides have established a special cooperation and consultation mechanism and have conducted many discussions.They have conducted in-depth studies on cooperation in natural gas,railways,harbors,electricity,Arctic routes,shipbuilding,agriculture,aquatic products,medical treatment and other fields,and have made certain progress.With the active promotion of the "New North Policy",economic cooperation between South Korea and Russia is steadily advancing.However,on the whole,the development of bilateral trade between Korea and Russia is unstable and the structure is single;cross-border cooperation projects have stagnated,and the potential forcooperation has not been fully released;the cooperation mechanism between the two countries is also immature.Among them,the stalemate on the denuclearization of the peninsula,the shackles of the Korea-US alliance,and the poor investment environment in Russia are the main factors hindering the in-depth cooperation between the two sides.In the long run,although the North Korean nuclear issue and western sanctions against Russia will still be the main factors affecting cooperation between the two countries,with the active promotion of the two governments,the two sides have established a stable consultation mechanism and Obvious cooperation projects have been actively explored.At the same time,the cooperation mechanism between the two sides has gradually matured.Korea and Russia have decided to formally sign a free trade agreement on services and investment projects in 2020,and the ROK-Russia economic cooperation will enter a new stage.