On 17 November 2014, a Memorandum of Understanding was signed between the Ministry of Railways, Government of India and the Ministry of Land Infrastructure and Transport (MOLIT) of the Government of Republic of Korea (South Korea) in Seoul. The objective of the Agreement is to enable technical assistance and cooperation between the Railways of the two countries on areas such as High Speed Rail, Modernisation of Rolling Stock, Railway Operations, Modernisation of Signalling, Construction & Maintenance technologies and in development of Logistics Parks/Terminals.