N.Korea-Russia Logistics Project Shelved

  • By Kim Myong-song

    February 12, 2016 12:22

    A logistics project connecting the Rajin port in North Korea with Khasan in Siberia has been shelved indefinitely after the North's nuclear and rocket tests.

    The project involves South Korean firms rather than the government, but a Unification Ministry official said they must ensure that they violate no sanctions halting inter-Korean economic cooperation.

    The project was to facilitate the transport of minerals like bituminous coal to South Korea via Khasan and Rajin. It involves POSCO, Hyundai Merchant Marine and KORAIL, who bought 49 percent of the Russian shares in RasonKonTrans, a Pyongyang-Moscow joint venture.

    The South Korean government invested in a roundabout way by providing the three firms with money reserved for inter-Korean projects.

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