Russian Deputy Economic Development and Trade Minister Andrei Sharonov and South Korean Minister for Trade Kim Hyun-chong signed the plan.
According to the Plan of Action, Moscow and Seoul intend to develop inter-regional and investment cooperation and boost bilateral trade.
The plan also covers Russian-South Korean cooperation in the spheres of science, space, energy, natural resources, information technologies, communications and fishing.
"The sides will launch a dialogue on strategic issues of energy cooperation to outline trends of joint work in the energy sector and to boost regional energy cooperation in Northeast Asia," the document reads.
Moscow and Seoul also agreed to boost cooperation in the sphere of gas industry and draft long-term programs on Russia's natural gas supplies to South Korea and to consider South Korea's role in the construction of the East Siberian-Pacific oil pipeline.
The sides also decided to continue working on a mutually beneficial way of linking the Trans-Siberian and Trans-Korean Railways.
The Plan of Action stipulates that the two countries would develop cooperation in the electricity and nuclear spheres, including supplies of low-enriched uranium to South Korea.
Earlier on Saturday, President of Russia's Vneshtorgbank (Foreign Trade Bank) Andrei Kostin and President and CEO of Korea Exchange Bank Richard Wacker signed a cooperation agreement.
The sides agreed to develop banking services of the bilateral foreign trade and financing of trade operations.
