Rasoncontrans JVC was founded by The open-joint stock company “Trading house Russian Railways” and Port Rajin, (DPRK) and registered in Rason special enterprise zone in July 16th, 2008 for 49 years. The shares in the authorized capital stock are distributed as follow: 70 percent of Shares shall belong to Russian party that is an Investor of Project and 30 percent of Shares shall belong to DPRK (this side was represented by rights for use Port Rajin).
The official opening ceremony was held on July 18th, 2014 in Rajin port. In the long term 4 or 5 million tons of cargoes will be transship through DPRK-built terminal per year. Currently most cargo turn-over of port is derived from Russian coal.
About 70% of the terminal's employees are Russian citizens. However, by the end of 2014, the ratio of Russians and Koreans in the enterprise is expected to be the opposite – part of the citizens of the Russian Federation at the complex will be only 30%.
The total staff with the cargo turn-over of 5 million tons will increase to 400 people and from 60 to 100 people of them will be a technical and engineering employees.
The Rason special economic zone, which includes Rajin and Sonbong cities, was created in 2010, the special trade regime of Zone providing the investments into to the local economy has gone into effect since 2011.