The South Korean leader on a three-day visit in Russia

South Korean President Lee Myung-bak arrived in Moscow on Sunday, Sept. 28.

Today he is to meet with President Dmitry Medvedev and Prime Minister Vladimir Putin.

They will discuss joint projects to develop natural resources in Siberia and the Russian Far East and international issues.

While in Moscow Lee, a former Hyundai CEO, will attend a business forum and a ceremony at which Russian energy giant Gazprom and South Korea's Cogas will sign a cooperation memorandum.

South Korea also plan to import 1.5 million metric tons of liquefied gas worth $1 billion under the Sakhalin II project in the Russian Far East.

According to information provided by RIA Novosti, Sakhalin II includes the Piltun-Astokhskoye and Lunskoye oil and gas fields on Sakhalin Island's northeastern shelf, with recoverable reserves estimated at 150 million tons (1.1 billion bbl) of oil and 500 billion cubic meters of natural gas.

Author: Ksenia Kochneva