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New rail link launched between South Korea and Russia

New rail link launched between South Korea and Russia

Seoul: Russian railfreight company TransContainer has set up a subsidiary in South Korea to deliver container cargo from South Korea to Russian regions, and also to countries of Eastern and Western Europe - a move that provides overland competition for Asia-Europe shipping lines.

Speaking at the opening ceremony for the new company, TransContainer General Director Pyotr Baskakov said: "The Russian market offers enormous interest in terms of business development for South Korean companies, whose capital investment in the Russian economy runs into billions of dollars. Stepping up mutually beneficial cooperation in various areas of the economy, and carrying out large-scale joint projects, cannot be achieved without a stable and inexpensive transport link."  [03/09/10]

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