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President Putin’s official visit to the Republic of Korea resulted in the signing of a memorandum of understanding on the delivery of $700 million-worth of Russian military equipment to Seoul. There is a framework list of types of Russian armaments to be bought by Korea, including military transport and trainer aircraft, flying tankers, helicopters, hovercrafts and other military equipment. Civilian deliveries would mainly consist of helicopters.

An agreement was signed on cooperation in the field of tourism and an understanding was reached on the construction of an aluminium plant in Eastern Siberia with the involvement of Korean capital.