A South Korea-Russia joint collaboration center to pursue technological cooperation and facilitate corporate exchanges has opened in Songdo in the west coast city of Incheon. 

According to the Ministry of Science and ICT, the opening ceremony for the South Korea-Russia Innovation Center was held on Friday. 

The launch of the entity is a follow-up to commitments made at a Seoul-Moscow summit last year, when the two sides agreed to collaborate to foster new industries and markets based on technological development.

The innovation center will provide support for technological cooperation between companies from the two countries and foster exchanges in research and development and other areas.  

Minister of Science and ICT You Young-min took part in the opening ceremony, along with former Incheon Mayor and former Chairperson of the Presidential Committee on Northern Economic Cooperation Song Young-gil. 

Russian participants included Deputy Minister of Economic Development Oksana Tarasenko and Russian Ambassador to South Korea Andrey Kulik.