Memorandum of Understanding was signed by Atomstroyexport and LG International Corp.

A Memorandum of Understanding was signed by Atomstroyexport (a joint-stock company within the Rosatom State Atomic Energy Corporation) and LG International Corp., Korea, on 22 June 2010 in Moscow. The Russian signatory to the memorandum was Timur Ivanov, First Vice-President of Atomstroyexport. The signatory on the Korean side was Yong Uk Ke, Vice-President of LG International Corp. The signing ceremony was attended by Atomstroyexport President Dan Belenky and LG International Corp. President Yong Bong Ha.
The signing of the memorandum binds the agreement of joint activities in the framework of a long-term strategic cooperation in thermal power. The document, among other things, states that the companies will consolidate efforts "to contribute to promoting EPC/EPCM power generation, electricity transmission and electricity distribution facilities and other related business projects, excluding nuclear power installations".
"The competence of LG International Corp., as it stands today, will help us expand our company's niche in the domestic market of EPC contracts, - Dan Belenky said. - Advanced Korean technologies may be also used to produce equipment for the Russian fuel and energy complex".
Mr. Yong Bong Ha stated that LG International Corp. had a great interest in employing Atomstroyexport’s energy-related business experience. " LG International Corp. has various business projects underway now, but cooperation with Atomstroyexport is the priority, said Yong Bong Ha.