Korail-Samsung C&T Join Hands to Pioneer New Overseas Railway Markets... "Expecting Synergy"

Korea Railroad Corporation (KORAIL) announced on the 4th that it has signed a "Business Agreement for Pioneering New Overseas Railway Markets and Developing New Businesses" with Samsung C&T Corporation.

Both companies agreed to cooperate mutually to discover integrated management model projects that cover everything from railway design, procurement, and construction (EPC) stages to operation and maintenance (O&M) consulting, and to advance into overseas railway markets. Starting this month, they plan to continuously discover and expand customized projects based on the 'EPC+O&M' model, beginning with Africa and Latin America regions.

They will also join forces in overseas expansion through railway policy and technology exchanges, cooperation in railway construction projects, sharing overseas related institution networks including local joint surveys, and training and technical education for employees in the overseas transportation sector.

A Samsung C&T official said, "We expect to further strengthen competitiveness in overseas railway projects by combining Samsung C&T’s accumulated railway construction technology with KORAIL’s railway operation know-how."

Kim Won-eung, Head of KORAIL’s Overseas Business Division, said, "By integrating KORAIL’s operation and maintenance expertise with railway design and construction technology, we will promote more efficient and safer railway projects," adding, "We will continue to cooperate with Samsung C&T to expand participation in overseas railway markets."