1. Foreign Minister Yun Byung-se, together with President and CEO Choi Yeon-hye of Korea Railroad Corporation (KORAIL), signed at the Foreign Ministry on January 13 a memorandum of understanding for cooperation on the tentatively-called “Eurasia Silk Road Friendship Express” project.

* The MOU stipulates basic principles regarding the project, including the plans of the two organizations to co-lead the aforementioned project and form a taskforce.

2. In October 2013, President Park Geun-hye announced the Eurasia Initiative with the vision of making the region “one continent,” a “creative continent” and a “peaceful continent.” The “Eurasia Silk Friendship Road Express” is a pilot project designed to enhance the physical connectivity in Eurasia and thereby attain the vision.

3. Under the MOU, the Foreign Ministry and KORAIL will form a taskforce for the project in January and consult on such details as the express route, period, main events and participants.

4. With the MOU concluded, the “Eurasia Silk Road Friendship Express” project will be put into full gear, paving the way for fulfilling the Eurasia Initiative. In addition, the project will play a role in implementing the “Silk Road Express (SRX)” project, one of the key tasks of the Eurasia Initiative, thereby helping bring peace and prosperity to the Eurasian continent at an early date.

* The SRX refers to a multimodal network connecting Eurasian countries based on the railway network that is connected through the Trans-Korean Railway (TKR) and trans-continental railways -- the Trans-Siberian Railway (TSR), the Trans-Chinese Railway (TCR), the Trans-Manchurian Railway (TMR) and the Trans-Mongolian Railway (TMGR). 


                Spokesperson and Deputy Minister for Public Relations of MOFA

* unofficial translation