S.Korea, Russia agree on $3 bln financing deals

Wednesday, 13 Nov 2013 | 4:12 AM ET

SEOUL, Nov 13 (Reuters) - South Korea and Russia have agreed on $3 billion of arrangements aimed at helping companies from one country secure financing for investment and ease trade deals in the other, Seoul's finance ministry said on Wednesday.

The arrangements were formed between two South Korean public institutions and three Russian entities, including the Russian State Development Bank VEB, the Russian Direct Investment Fund and Sberbank, the ministry said.

The deals were announced during a visit by Russian President Vladimir Putin. South Korea is keen to boost investment in Russia, especially on energy, natural resources, petrochemical and construction projects.

(Reporting by Choonsik Yoo; Editing by Ron Popeski)