Russian Railways and Korean Railways, Korail, signed a memorandum of understanding for the development and implementation of railway transport and logistics projects. The Chairman of RZD, Oleg Belozerov, and Korail President, Hong, Soon-man, discussed the possibility of establishing a joint venture specialising in rail logistics.
In the five months of 2018, the container transport between Russia and the Republic of Korea increased by 40 per cent reaching 47,000 TEUs and the companies are interested to further increase rail transport volume between Korea, Russia and Europe. This goal can be achieved by restoring rail links on the Korean Peninsula by modernising the Trans-Korean Railway, according to the senior management at Russian Railways and Korail.
Between 2008 and 2014, the railway branch line from Khasan station in Russia to the port of Rajin in North Korea was restored. This project is the first stage in reconstructing the Trans-Korean Railway.
The two companies will study and elaborate the conditions of railway transport on South Korea – Russia – Europe axis, including trilateral project connections involving the Trans-Korean Railway and the Trans-Siberian Railway with the participation of the Democratic People’s Republic (North Korea), South Korea and the Russian Federation.
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