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RDIF, Korea Investment Corporation launch $500m fund

13 Nov 2013

korea dragon stoneState-backed Russian Direct Investment Fund (RDIF) has joined forces with Korea Investment Corporation (KIC) to launch a $500m investment vehicle.

The new investment fund will focus on cross-border investments “which fulfil Russian-Korean strategic interests.” It will invest in companies and projects that facilitate trade between the two countries, RDIF said.

RDIF CEO Kirill Dmitriev said, “Since 2009, direct investment from the Republic of Korea to the Russian Federation has declined by roughly six fold.

“I am confident that the creation of the Russian-Korean Investment Platform will help to reverse this trend and act as a catalyst for strong growth in investment flows between our two countries and strengthen economic cooperation.”

KIC CEO Lee Dong-Ik noted that more than 1,200 Korean companies have made capital investments in Russia and the new investment vehicle “will provide additional opportunities for businesses from both Korea and Russia to further develop these relationships.”

Earlier this month RDIF and Caisse des Dépôts International launched the Russia-France Investment Fund.

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