South Korean firms ready to buy foreign businesses leaving Russia

SEOUL, Jun 6 (PRIME) -- South Korean companies do not plan to leave the Russian market, but are considering purchases of shares of foreign businesses that are leaving, Honorary President of South Korea’s federation of northern directions entrepreneurs FNE and CEO of energy company Shindong Enercom Kim Yun Sik told PRIME in an interview released on Monday.

“Companies operating on the local market, including Hyundai Motors, Lotte, CJ and other, do not plan to leave. On the contrary, they would like to acquire the assets of U.S. and Japan’s companies that are leaving. But they seem to be considering the West’s (reaction),” he said.

“We would also like to buy Japanese energy companies on the Sakhalin Island and in other locations together with the Russian partners to turn them into companies producing green energy, for example, hydrogen,” he added.

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