The Putin Administration's Far East Development Plans and the Future of Korea-Russia Cooperation

The Russian government in Putin's third term, in addition to establishing Ministry for Development of Russian Far East in May 2012 directly after presidential inauguration, is preparing a national program for Socio-Economic Development of Far East and Baikal region until 2025. The economic factors play a critical role in this unprecedented interest of developing Far East and Baikal region. These regions, due to their geographical location, will be directly affected by economic growth and integration of rising Asia-Pacific region. Despite economic crisis, Asia-Pacific region has been growing consistently, accounting for about 53 percent of world GDP and 44 percent of global trade. At meeting with heads of diplomatic missions on July 9, 2012, Putin stated that Russia's active participation in process of Asia-Pacific integration will boost socioeconomic growth in Siberia and Far East, and emphasized linkage between Asian-Pacific economic cooperation and development in Far East. In dimension of the peaceful cooperation structure in Northeast Asia and expansion cooperation with Eurasia, one of Korean government's policy goals, Russia's Far Eastern region is geographical links for promoting Northern Triangle cooperation among South Korea, North Korea and Russia. The Russian government's Far East development plan should be considered as a crucial factor for Korea's securement of new sources of economic growth, through its expansion into emerging markets. Accordingly it is highly necessary to analyze, based on socioeconomic situation in Russian Far East and Baikal region, Putin administration's concepts and plans for Far East development. And it is also required to seek ways to facilitate cooperation between Korea and Russia.