Here's why this is important:
* Latitude: Lines of latitude run horizontally around the globe, measuring distance north or south of the equator. 60 degrees North means the location is 60 degrees away from the equator in the northern direction.
* Longitude: Lines of longitude run vertically from pole to pole, measuring distance east or west of the prime meridian. 120 degrees East means the location is 120 degrees away from the prime meridian in the eastern direction.
To get a better idea of where this point is:
* It's located in Northern Russia, close to the Arctic Circle. The exact spot is in the remote northern part of Siberia, within the Sakha Republic (Yakutia).
* It's a very cold and sparsely populated area.
Let me know if you have any other geographic questions!