The study aims to suggest policy implications for Korea-Russia cooperation in the digital economy by analyzing Russia’s current state of digital competitiveness, digital economy policies and international cooperation cases. Russia’s digital economy can be assessed medium level. Russia has been adopting digital economy policies to develop legal institutions and improve business environment, and is actively proceeding international cooperation with China. To activate digital cooperation between Korea and Russia, national policy and mechanisms for bilateral cooperation are necessary. Therefore, we suggest the conclusion of a “joint digital economic initiative” between Korea and Russia, based on which a roadmap by sectors can be formulated. As leaders on both sides have agreed on cooperation in the 4th industries, it is now time to design more specific cooperation projects and establish relevant institutions. In addition, a cooperation mechanism among that spans industry, academy and government may help to realize the joint initiative.