The Memorandum for Exchange between the Foreign Ministries of the Republic of Korea and the Russian Federation was signed on Friday, March 28 in Seoul by the First Vice Minister of Foreign Affairs and Trade Kwon Jong-rak and Russian Ambassador to Korea Gleb Ivashentsov.

Foreign Ministries of Korea and Russia exchanged the Memorandum for Exchange in two years since 2006. Major points of the memorandum include mutual visits of Vice Ministers of Foreign Affairs and Director-Generals to discuss matters of mutual interest, Vice Foreign Ministers consultation to discuss the North Korean nuclear issue, the Six Party Talks, situations on the Korean Peninsula and pending issues of Asia Pacific and Central Asian region, consultations on issues related to the UN, Northeast Asia and the Middle East, and means to simplify the visa issuance process.

The Memorandum is expected to make contributions to build a cooperation channel between the new administrations of the two countries for the matters of mutual interest including the North Korea's nuclear issue, energy, resources and development of the Far East and Siberia.