The countries of South Korea and Russia have signed a memorandum of understanding that will cement a strategic partnership between the two nations. The agreement addresses three main areas: industrial technology; technology standards; and, trade and investment. The two countries will collaborate on parts and materials, nanotechnology, machinery and aeronautics, information technology, renewable energy, and energy efficiency, with the goal of attracting private investment in the commercialization of their jointly developed technologies. Russia and Korea will pursue joint marketing activities, hold joint seminars, and organize exchange programs for skilled personnel.