Korea and Russia sign shipping agreement

The Ministry of Land, Transport and Maritime Affairs says that Minister, CHUNG, Jong Hwan of Land, Transport and Maritime Affairs of Korea and Minister, Igor Yevgenievich Levitin, of Transport of Russia signed a Shipping Agreement.

The Agreement was first initialed in January last year, and after the remaining procedure was completed, the two Ministers signed the Agreement this month by taking the opportunity of the Korea-Russia summit meeting,

The Agreement includes opening sea routes between third nations, national treatment to ships of both nations, streamlining customs and transport procedures and holding shipping meetings, etc.

The Ministry says that the Shipping Agreement will eliminate various problems occurred in transporting cargo and passengers to Russia and thereby create a favorable and stable business environment for Korean shipping firms.