On November 25, 2015, Shin & Kim and the Federation of Korean Industries (FKI) held a joint seminar entitled “Development of Russian Far East and Opportunities.”

In the first session, Shin & Kim’s Russian attorney, Tae-Rim Lee, gave a presentation on Russia’s participation in the Asia Infrastructure Investment Bank (AIIB) and the business environment and future outlook on the development of the Far East region.  In the second session, Albert Rakipov, the Deputy Head of the Russian Ministry for the Development of the Russian Far East, gave a presentation entitled “The Russian Far East: time to invest” addressing new business opportunities in the Russian Far East.  In the third session, Hyun-Sik Shin of Shin & Kim introduced the Advanced Special Economic Zone (ASEZ) Law of Russia and federal laws concerning the Free Port of Vladivostok.  In the last session, Myeong-Su Jeon, the former director of SK Networks’ Vladivostok office, gave a presentation on Korean companies’ strategies for successful entry into the Russian market in light of Russia’s new economic policy.

Amidst the Russian government’s enactment of a series of laws to adopt a minimum level of administrative supervision and various incentives for the development of the Russian Far East earlier this year, the seminar was attended by more than 100 officers and employees of numerous Korean companies interested in entering into the Russian market, as it addressed the relevant local laws and regulations and an overview of Russia’s current business environment and strategies for doing business in the country.