The economist noted South Korea's plans to return privileges to its companies in Russia.

South Korea wants to return all privileges for its companies in order to trade in Russia on special terms. This was announced on September 27 by Vasily Koltashov, an economist and director of the Institute of the New Society.

"We have a mercantilist—style market economy - the market is divided into shares. And so they say: cut off a slice for us, for those who have remained in Russia, they have retained their presence. <… > That is, they want those Korean companies that sell their products on the Russian market to continue doing so, but to receive some kind of privileged status," he said in an interview with Regnum News agency.

According to the economist, this formulation is not about maintaining production facilities and normal operation in the Russian Federation, but only about selling something in the country.

Koltashov clarified that South Korea also intends to maintain and expand the supply of parts for Korean cars, which are heavily present in Russia. At the same time, he expressed the opinion that the South Korean side is unlikely to get the privileged status back due to the lack of trust from the Russian Federation.

However, the expert did not rule out that if South Korean companies produce a unique product and are ready to manufacture it in Russia, they may receive some privileges, but in the "Chinese format" — assigning local Russian managers to companies who could study everything.

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Earlier in the day, South Korean Foreign Minister Cho Hyun, at a meeting with Russian Foreign Minister Sergei Lavrov at the 80th session of the United Nations General Assembly (UNGA) in New York, asked Moscow to create favorable conditions for the work of South Korean companies.

In March, The Korea Times newspaper noted that the Korean companies Hyundai, LG and Samsung are considering the possibility of returning to the Russian market. At the same time, HD Hyundai Electric subsidiaries Kia, Hyundai Mobis and Hyundai Steel have posted vacancies in Russia, which indicates a high chance of resuming operations.

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