Problems and Prospects of Economic Integration of Russia and South Korea in the ASEZs

Abstract

This article analyzes the Advanced Special Economic Zones (ASEZ) initiative in the context of economic integration of the Russian Federation and South Korea. The author of the article, relying on an extensive source base, for the first time attempts to answer the question of what factors impede the successful implementation of projects by the two countries within the framework of this initiative. The purpose of the study is to identify and characterize the main problems and prospects of cooperation between the Republic of Korea and the Russian Federation within the ASEZ. The study was carried out within the framework of an integrated approach using the SCAN Interfax media environment analysis system as one of the main forecasting tools. At the same time, the author draws on statistical data reflecting the state of export-import and trade turnover between the two countries over the past five years. The analysis of the source made it possible to determine that despite the huge interest of South Korean business in the emerging markets of the Russian Federation, the project could not be implemented as planned due to the complicated administrative procedures, the fundamental difference in the procedure for investing in high-tech and commercial production, lack of trust in the Russian system of economic planning as well as insufficient experience in ways of doing business with South Korean companies by Russian Far Eastern specialists.