Busan Signs MOU with RasonKonTrans on Joint Venture for Rajin-Khasan Project
2015-03-05
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The City of Busan signed an MOU with RasonKonTrans on revitalizing economic exchanges and held an Rajin-Khasan Project information session on February 11, 2015, at Busan City Hall. The city aims to play a leading role to actualize President Park's 'Eurasia Initiative.'
President Park Geun-hye and Russian President Vladimir Putin issued a joint statement during the summit in 2013. The Rajin-Khasan project, which was a prominent part of the joint statement, is a cooperative project for logistics and transport linking Rajin in North Korea and Khasan in Russia by rail, and reaching Europe through the Trans-Siberian Railroad (TSR).
If the project is realized, the City of Busan, supported by the advanced port infrastructure and resources of Busan New Port, is expected to become the mecca of Northeast Asia’s logistics industry. As part of the project, Busan will be the starting point for transport from Northeast Asia to Europe, and serve as a transport hub and logistics network base for Eurasia connecting the Trans-Siberian Railway (TSR) and Trans-Korean Railway (TKR).
