Ministerial and vice-ministerial officials of South Korea and Russia have met in a seminar in Moscow to seek ways to strengthen bilateral economic cooperation.

During the session Wednesday, the South Korean officials explained the measures Seoul has implemented to ease regulations in the financial sector and other steps the government is taking to push for financial reform.

Russian officials, on their part, explained the policies they have put in place to attract foreign direct investment.

South Korea's chief delegate, Minister of Trade Hwang Doo-yun, said that the two sides discussed ways that will allow South Korea's small- and medium-sized firms as well as conglomerates to do business in the Russian market.

Russia's chief delegate, Economy Minister German Gref, said the seminar was aimed at holding close discussions on bilateral economic issues ahead of a prospective visit by President Roh Moo-hyun to Moscow.