Seoul is planning to provide a loan to South Korean companies on the condition they sign a contract to join the Rajin-Khasan project, Dong-ah Ilbo reported on Thursday.

The trilateral trade project between Russia and the two Koreas is led by private companies including POSCO, Hyundai Merchant Marine and KORAIL.

The South Korean National Assembly's Foreign Affairs, Trade and Unification Committee urged the Ministry of Unification (MoU) to increase financial support for the project.

"To make the project a successful case of multilateral cooperation, the government is required to confirm a positive position