Daewoo International held an MOU signing ceremony on October 27 at the ExpoCenter in Moscow to celebrate the establishment of strategic cooperation with JSC Rusnano on new technology.

Rusnano is a state owned enterprise that has expertise in nanotechnology. Nanotechnology is the study of manipulating matter on an atomic and molecular scale. The technology is applied in various fields, including life science and high-tech materials.

The signing ceremony was attended by Vice Chairman Mr Lee Dong-hee of Daewoo International and JSC Rusnano CEO Mr Anaatoly Chubays along with key participants.

Both companies agreed to promote strategic cooperation on new technology and investment in Russia over a three-year term. Daewoo International is planning to utilize 45 years of its overseas business know-how and its affiliate network to promote new technology in Russia as well as engage in projects as a joint investor.

Recognizing Russia potential as a strategic business destination, Daewoo International has made steady efforts to increase investments in Russia. Daewoo International predicts that the business opportunity will help it establish a foothold in local.