The leaders of South Korea and Russia have signed a number of agreements to increase their cooperation in spheres such as energy, gas and infrastructure projects. President Putin, who was holding talks with President Moon in Moscow, also said he believed the situation on the Korean Peninsula was gradually improving. Jessica King has this report.

To a room full of applause, the presidents signalled their growing economic and diplomatic ties. Collaborations on large-scale infrastructure projects were agreed on, as well as joint research in the fields of gas, energy, science and technology.

MOON JAE-IN SOUTH KOREAN PRESIDENT "We agreed also to boost our cooperation in order to allow the Korean Peninsula and all of Eurasia to enjoy peace and prosperity."

They share a common goal - to see the complete denuclearization of the Korean Peninsula. Russia intends to continue playing its part in the peace process, and Mr. Putin believes the situation was slowly improving.

VLADIMIR PUTIN RUSSIAN PRESIDENT "You know that Russia has always stood for the normalization of the situation in the Korean Peninsula. (Russia) has always brought in and will bring in all possible input into settlement of all issues."

JESSICA KING MOSCOW "This is the first visit by a South Korean president to Russia in 19 years. Putin sees this as an opportunity to enhance political and economic ties with Seoul and South Korea is happy to oblige - both sides are ready to press ahead with business."

But military expert Vladimir Evseev says it's not just about financial gains for Russia.

VLADIMIR EVSEEV, DEPUTY DIRECTOR CIS INSTITUTE "Russia has sanctions, and sometimes it is difficult for us to receive technology from the West. If South Korea helps us receive modern technology, Russia may develop more quickly. So for us, it is important to receive money and technology, and we at the same time, are ready to help the stabilization of the Korean Peninsula both sides have interest for mutual cooperation."

Both presidents welcome the opportunities that await but they will need to ensure that their warming of relations with the DPRK don't break down. Jessica King, CGTN, Moscow.