Supporting $500 Million 'Paraguay Light Rail Project Contract Win'... Government Dispatches Public-Private Joint Delegation

First Visit to Latin America to Secure Large National Projects Since COVID-19

[Asia Economy Reporter Lim Cheol-young] The government is dispatching a public-private joint delegation to support the winning of the Paraguay light rail project.

According to the Ministry of Foreign Affairs on the 12th, the government plans to send an 11-member public-private joint delegation from the 13th to the 25th to support winning the 'Asuncion-Upacarai Light Rail Project' in Paraguay.

The public-private joint delegation consists of 11 officials from the Ministry of Foreign Affairs, Ministry of Land, Infrastructure and Transport, Korea Overseas Infrastructure & Urban Development Corporation (KIND), Korea Rail Network Authority (KRNA), Hyundai Engineering, Ione Bio, and others. The Paraguay light rail project is valued at $500 million.

The delegation will visit Paraguay to hold meetings with senior government officials related to the light rail project and establish a Memorandum of Understanding (MOU) between KIND and Paraguay Railway Corporation (FEPASA), laying the foundation for winning the light rail project and creating a mutually beneficial cooperation base in the infrastructure sector going forward.

Meanwhile, a Korean quarantine company will accompany the delegation to install diagnostic equipment at the airport upon arrival in Paraguay and conduct PCR tests on our delegation members first. This aims to reduce the delegation's self-quarantine period, and some diagnostic equipment will be supported for continued use by the Paraguayan side.

An official from the Ministry of Foreign Affairs stated, "This visit to Paraguay by the public-private joint delegation composed of the Ministry of Foreign Affairs, Ministry of Land, Infrastructure and Transport, KIND, and construction companies is significant as it is the first visit to Latin America for securing large-scale national infrastructure projects since the outbreak of COVID-19, marking the full-scale activation of economic diplomacy with Latin America." He added, "The government will continue to provide multifaceted support so that our companies can enter promising projects in the Latin American region."