Russia will team up with North and South Korea in a railroad construction project that could restore peace between the two neighbors. The link will extend the world’s longest railroad, so goods can be shipped between Europe and Korea 3x faster.
Russia’s Minister for Far East Development Aleksander Galushka announced the plan to extend the Trans-Siberian Railroad at a meeting in Vladivostok on Thursday.
The expansion would provide a link between the Korean peninsula and Europe’s $17 trillion economy, making Russia a major transit route between Europe and Asia. Shipping by rail is nearly 3 times faster than via the Suez Canal, Russian Railways CEO Vladimir Bakunin has said.
“We have agreed to launch trilateral projects between Russia, DPRK and South Korea with a focus on the railroad project. It’s important to extend the Trans-Siberian Railroad to the Korean peninsula. It will serve to stabilize and improve the situation on the Korean peninsula as a whole,” Galushka said at the sixth annual Russian-Korean meeting on trade, economic, educational, and scientific cooperation.