Korean Companies Explore Participation in 95 Trillion Won Vietnam High-Speed Rail Project

Park Sangwoo Promotes Korea's High-Speed Rail at Korea-Vietnam Railway Cooperation Forum
Emphasizes Technology Transfer and Local Expert Training for Vietnam's North-South Project

Park Sang-woo, Minister of Land, Infrastructure and Transport, attended the 'Korea-Vietnam Railway Cooperation Forum' held in Hanoi, Vietnam on the 31st (local time), the Ministry of Land, Infrastructure and Transport announced.

Amid the attendance of local government officials and public enterprise representatives, Park expressed Korea's intention to actively cooperate on the North-South high-speed railway construction project, which is being promoted as a national project by the Vietnamese government. At the forum, Minister Park emphasized that "Korea, based on its world-class high-speed railway operation experience and technological capabilities, will grow together as a trustworthy partner with Vietnam," and highlighted that the Korean government will also assist with technology transfer and local expert training.

At the Korea-Vietnam Railway Cooperation Forum, Park Sang-woo, Minister of Land, Infrastructure and Transport, is speaking. Provided by the Ministry of Land, Infrastructure and Transport

Along with Minister Park, the delegation visiting Vietnam included public institutions under the Ministry of Land, Infrastructure and Transport such as the Korea Rail Network Authority, Korea Railroad Corporation, Korea Land and Housing Corporation, Korea Overseas Infrastructure & Urban Development Corporation, and Korea Railroad Research Institute. More than 20 private companies, including Hyundai Engineering & Construction, Daewoo Engineering & Construction, GS Engineering & Construction, POSCO E&C, Hyundai Rotem, Dohwa, and Yushin, also accompanied the delegation.

On the local side, senior officials from the Vietnamese Ministry of Construction and Vietnam Railways attended. The Vietnamese government is promoting a high-speed railway construction project connecting Hanoi and Ho Chi Minh City. It is a large-scale project with a total length of 1,541 km and a project cost reaching 95 trillion won.

On the same day, Minister Park met with Tran Hong Minh, Minister of Construction of Vietnam, and signed a memorandum of understanding for cooperation in the railway sector between the two countries. They agreed to share Korea’s high-speed railway technology and experience from project planning to maintenance stages. Subsequently, Minister Park met with Phan Van Mai, Chairman of the National Assembly’s Economic and Financial Committee, to promote the strengths of Korean companies and requested interest and cooperation to actively participate in local projects.

Minister of Land, Infrastructure and Transport Park Sang-woo (from right), Lee Seong-hae, President of the Korea Rail Network Authority, and Han Moon-hee, President of Korail, are taking a commemorative photo after signing a business agreement between the railway-related organizations of the two countries on the 31st (local time) in Hanoi, Vietnam. Photo by Ministry of Land, Infrastructure and Transport

Minister Park said, "The 'National One Team Strategy,' in which the government-centered Korea Rail Network Authority, Korea Railroad Corporation, and private companies closely cooperate, and the flexible and open 'K-Rail Cooperation Model' for technology transfer and expert training are gaining high trust in the global market."

He added, "This Vietnam high-speed railway project is a large-scale project that goes beyond simple infrastructure construction to include signaling, communication, power systems, vehicle supply, operation and maintenance, and expert training as a package, which can greatly contribute to the development of our railway industry and job creation."