Trend Korea-Russia relations stall under prolonged sanctions and structural change

Summary

Since diplomatic ties were established in September 1990, political, diplomatic and economic relations between Korea and Russia developed steadily for 35 years. The report finds that since the outbreak of the war the relationship has been spinning its wheels, falling short of both sides' expectations and of its economic growth potential. The current crisis is described not as an ordinary downturn or a temporary shock but as one intertwined with structural change. That change includes a long period of intense sanctions, the reorganization of global supply chains and the energy and digital transitions. The authors therefore see the relationship as having entered a new phase that calls for a strategic shift across the board.