On September 4, 2019, Director General of Rusatom Cargo Aleksandr Neklyudov, President of Korea Marine Equipment Research Institute KOMERI Kong Gil Young and Executive Managing Director of logistic company Sinokor Lim Sam Seob signed a multilateral Memorandum of Understanding on the development of Northern Transit Corridor (NTC).

According to the Memorandum parties plan to exchange information and knowledge in order to develop potential areas of cooperation in coastal infrastructure design development and modernization for NTC; development of maritime and short sea shipping via Asia – Europe transit route; enhance port’s energy efficiency and adopt digital management techniques. According to the parties the agreement shall facilitate bilateral trade between Russia and Republic of Korea.

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For reference:

Rusatom Cargo is a company of ROSATOM State corporation, subsidiary of JSC Atomenergoprom. Rusatom Cargo is a logistical operator, that provides shipping services for Russian nuclear industry’s projects abroad, and that shall organize and develop international transit shipping via Northern Transit Corridor (NTC), based on Northern Sea Route.

Korea Marine Equipment Research Institute (KOMERI) is one of the leading Korean specialized research institute for marine technology development and certification.

Sinokor Merchant Marine is a leading shipping company of South Korea, that ranks among the top-50 container shipping companies in the world.