The article examines the current issues of developing Korean students’ paremiological competence in the process of teaching Russian as a foreign language. The article shows the possibilities of implementing this task within the framework of a student lexicographic project. The participants in the project were Korean students of Russian and Russian-speaking students studying the Korean language and culture. The project activity was aimed at creating a bilingual (Russian-Korean) dictionary of proverbs. We describe the progress of the project and its results. In addition to the dictionary of proverbs published in Korea, the students developed precise interpretations of Russian proverbs, selected Korean equivalents of these proverbs and identified their ethnocultural specifics. Based on authoritative sources, linguocultural comments on proverbs of both languages were developed and included in the dictionary entries. This is how we realized the cross-cultural aspect of the paremiological material description. In the course of working on the project, the students developed the following parameters of paremiological competence: skills of disclosing the meaning, skills of establishing equivalence and providing a linguocultural commentary on proverbs. The final control section confirmed an increase in the students’ development level of these parameters, which allowed us to draw a conclusion about the effectiveness of the project work as a means of developing the international students’ paremiological competence. The article makes a conclusion about the possibility of using research materials in the practice of teaching Russian as a foreign language and in compiling educational paremiological dictionaries.