Monday, March 24th, 2014
SEOUL, KOREA - An agreement that may make the dream of riding a trans-continental train from Busan to London come true has been signed.
Korea Railroad Corp. said on March 23 that its president Choi Yeon-Hye met on the 21st Tadeusz Szozda, chairman of the Organization for Cooperation between Railways (OSJD) in Warsaw, Poland, and signed a pact to join the organization as an affiliate member. Established in 1956, the 27-member OSJD is an international organization responsible for railway transportation across Eurasia.
Once Korea becomes an affiliate member, it will be able to sit in on all OSJD meetings dealing with issues such as international treaties, tariff agreements, trans-shipments, and revenue sharing across trans-continental railroad operations. Once Korea joins the membership, it is expected that the country's bid to become a full member would be expedited. For the past ten years, Korea's effort at being admitted to the club has been blocked by North Korea, a full OSJD member, as admission of new members must be approved by unanimous votes by all members.
The latest agreement is also expected to accelerate the inter-Korea cooperation project. In February this year, Korail officials visited the future site of the Najin-Hasan railroad construction project with warm reception from the North. The 54-kilometer Najin-Hasan railway project, once completed, will be the starting point for the trans-Siberian railroad connecting Busan in the eastern end to London in the western end. Currently companies like POSCO, Hyundai Merchant Marine, and Korail are pushing forward with the project.