Russian boatbuilder Composite Shipbuilding is holding talks with South Korea’s IGE Yachts to expand to the South Korean market. Among others, Composite Shipbuilding is discussing the export of its Pacifico Voyager 117 catamaran.

The boatbuilder is owned by Russian businessman Dmitry Voloshenko, who serves as the chairman of the firm’s board. Composite Shipbuilding specialises in making boats, yachts and catamarans, and also provides repair and maintenance services, according to data from the firm.

Voloshenko said that the South Korean company visited Composite Shipbuilding’s new facility where the firm builds craft with a length of up to 12 metres, according to a statement by the Ministry for the Development of the Russian Far East.

Composite Shipbuilding was set up in 2000. The company owns a shipyard in Vladivostok, in the country’s Primorsky Krai region, on the Russian Sea of Japan shore. Composite Shipbuilding’s facility is located within the Free port of Vladivostok zone which provides the firm with preferential tax treatment.

Based in Busan, in South Korea’s south-eastern part, IGE Yachts says it is a local dealer of Bali Catamarans and Dufour Yachts.