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Biz News Korea(Eng)
Samsung Electronics to ship goods to Europe via Trans-Siberian Railway
- Collected
- 2016.10.19
- Distributed
- 2016.10.20
- Source
- Go Direct
![Samsung Electronics Co. President Park Sang-jin, right, and Russian Railways President Oleg Belozerov shake hands after signing a memorandum of understanding on Tuesday (local time) in the presence of Russian Prime Minister Dmitry Medvedev at his official residence in Moscow. The MOU allows the Korean tech giant to ship goods via the Trans-Siberian Railway. [Photo provided by Samsung Electronics]](http://file.mk.co.kr/meet/neds/2016/10/image_readtop_2016_727690_14767780952650460.jpg)
Samsung Electronics Co. President Park Sang-jin, right, and Russian Railways President Oleg Belozerov shake hands after signing a memorandum of understanding on Tuesday (local time) in the presence of Russian Prime Minister Dmitry Medvedev at his official residence in Moscow. The MOU allows the Korean tech giant to ship goods via the Trans-Siberian Railway. [Photo provided by Samsung Electronics]
Under the preliminary agreement signed in Moscow, finished goods and material supplies that were shipped directly from Korea and China to eastern Europe by sea will be delivered via the world’s longest trans-continental railway. Container ships with products and items manufactured in Korea and China will first be sent to Vladivostok using marine transportation, which will then move to European countries including Slovakia, Hungary, and Poland via the Trans-Siberian Railway.
The Korean company expects that the overall reduction in transportation time will not only reduce distribution costs but allow it to more efficiently manage inventory and respond rapidly to product model changes.
By Lee Seung-hoon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]