Latest news with #HyundaiRotemCo.
Korea Herald
22-05-2025
- Business
- Korea Herald
S. Korea has competitive edge over China in UAE high-speed railway bid: minister
The South Korean consortium has a competitive advantage in technology transfer over its Chinese rival as it vies to win the United Arab Emirates' high-speed railway project, estimated to cost $13.6 billion, Seoul's transport minister said Wednesday. Transport Minister Park Sang-woo said that the Korean consortium, consisting of the Korea National Railway, Korea Railroad Corp., Hyundai Rotem Co. and Posco E&C Co., has passed the pre-qualification procedure to enter the official bid for the Middle Eastern country's railway project. Park is currently in the eastern German city of Leipzig to attend the three-day International Transport Forum Summit, which kicked off earlier in the day. "Our primary focus is on technology transfer on top of product quality, while China appears to focus on the price dimension," Park told Yonhap News Agency. Earlier this year, the UAE opened two separate bids for the project -- roadbed and railway vehicle constructions. It aims to build a new 150-kilometer-long high-speed train line linking Abu Dhabi and Dubai with a goal of beginning operations in 2030. To win overseas construction projects, three factors should be considered: price competitiveness, localization capabilities and ability to finish the project "on time," the minister pointed out. Compared to other competitors in the race for the bid, Seoul's strength lies in its localization and on-time capabilities, including technology transfer, Park said. South Korea's potential win in the UAE project could pave the way for the country to expand its foothold in the overseas construction market, especially considering that Seoul proposed a European high-speed railway model to the Middle Eastern country, he added. Vietnam, Egypt and Peru are reportedly among the countries pushing for their own high-speed railway project in the near future. In February, South Korea's Hyundai Rotem won a 2.2 trillion-won ($1.6 billion) deal from Morocco to supply advanced trains. Last year, it also signed a 270 billion won contract to supply high-speed trains to Uzbekistan. The minister also said South Korea will work to develop hydrogen-powered trains in line with the international community's push for decarbonization of the transport sector. Earlier this month, Seoul's transport ministry announced a plan to develop and commercialize hydrogen-fueled trains by 2028 to help the local industry secure global leadership in the field. The value of the global hydrogen train market is projected to grow to $26.4 billion by 2035 from the current value of $2.67 billion, according to the ministry. (Yonhap)
Korea Herald
21-05-2025
- Automotive
- Korea Herald
Hyundai Rotem to showcase MUM-T capabilities at naval defense exhibition in S. Korea
Hyundai Rotem Co., said Wednesday it will showcase its advanced manned-unmanned teamingcapabilities for amphibious military operations at the 2025 International Maritime Defense Industry Exhibition later this month. The defense equipment and rail system arm of Hyundai Motor Group said it will participate in the biennial naval defense trade show set to take place from May 28-31 at BEXCO in South Korea's southern port city of Busan. At 2025 MADEX, Hyundai Rotem plans to highlight its MUM-T technologies and products tailored for amphibious missions that bridge both land and sea operations. MUM-T refers to a battlefield integration strategy that enables manned vehicles or personnel to work in coordination with unmanned systems, such as drones or unmanned ground vehicles. Hyundai Rotem will showcase the HR-SHERPA, a next-generation multipurpose unmanned ground vehicle, which can be equipped with a variety of mission-specific payloads. Since its introduction in 2018, the HR-SHERPA has gone through various upgrades, with the fourth-generation model launched last year. The company will also display the export variant of its K2 battle tank, the K2EX, as well as a prototype of its next-generation tank currently under development. "We aim to strengthen our global presence in future battlefield systems with the HR-SHERPA and other advanced manned-unmanned integration technologies," a Hyundai Rotem official said. (Yonhap)
Korea Herald
15-05-2025
- Automotive
- Korea Herald
Hyundai Rotem wins W420b contract to supply trains for Taiwanese subway project
Hyundai Rotem Co., a South Korean railway and defense systems company, said Thursday it has won a 420 billion-won ($298.1 million) contract to supply automated trains for a subway project in Taiwan. Under the deal with the city government of Taichung, Taiwan's second-largest city with a population of about 2.8 million, Hyundai Rotem will supply fully automated trains with cutting-edge technology for the city's blue subway line. A single three-car trainset will be able to carry up to 530 passengers at a maximum operating speed of 80 kilometers per hour. It will use lightweight aluminum bodies to increase durability while reducing vehicle weight, thus improving energy efficiency, The blue line is the second of four planned metro lines in the city, spanning 24.78 kilometers with 20 stations. The line is expected to significantly improve commutes for local office workers and students. Hyundai Rotem said its successful track record in Taiwan has contributed to its bid success, following previous projects, such as supplying trains for Taiwan Railways, the Kaohsiung Red Line and Taipei Metro. "A series of successful projects and positive evaluations in Taiwan helped us secure this contract," a Hyundai Rotem official said. "We will do our utmost to deliver safe and reliable trains for the people of Taichung." (Yonhap)
Korea Herald
26-02-2025
- Automotive
- Korea Herald
Hyundai Rotem wins record W2.2tr train supply deal from Morocco
Hyundai Rotem Co., the train manufacturing subsidiary of South Korea's Hyundai Motor Group, said Wednesday it has won a 2.2 trillion-won ($1.53 billion) deal from Morocco to supply advanced trains to the North African nation. Hyundai Rotem secured the contract to supply ONCF, Morocco's national railway operator, with double-decker electric trains, the company said in a press release. The deal marks Hyundai Rotem's first entry into the Moroccan market and sets a new record as the company's single largest railway supply deal. Previously, the company's biggest contracts included the Australian NIF double-decker train project worth 1.4 trillion won, the Australian Queensland train supply contract valued at 1.3 trillion won and the Los Angeles Metro train contract worth 900 billion won for the 2028 Los Angeles Summer Olympics. The double-decker trains, capable of speeds of up to 160 kph, will connect Morocco's largest city, Casablanca, with key regions, enhancing the country's public transportation infrastructure ahead of the co-hosting of the 2030 FIFA World Cup. Some components will be manufactured locally to contribute to Morocco's railway industry development. The maintenance of the trains will be handled jointly by Hyundai Rotem and the Korea Railroad Corp. through separate negotiations. Hyundai Rotem attributed the success to collaborative efforts involving multiple government agencies, most notably the Ministry of Land, Infrastructure and Transport. Transport Minister Park Sang-woo visited Morocco last year to promote the competitiveness of South Korea's railway industry. The government also helped reinforce Hyundai Rotem's bid by extending support to Morocco via its Economic Development Cooperation Fund, a low-interest loan program designed to support infrastructure projects in developing nations. KORAIL's offer to provide technology transfers, training programs and maintenance expertise also played a crucial role in securing the contract. Hyundai Rotem said it anticipates the project will benefit over 200 small and medium-sized rail sector companies in South Korea, which will supply around 90 percent of the components. The project is also expected to expand South Korea's presence in the African railway market. Hyundai Rotem has been involved in projects across Tunisia, Tanzania and Egypt, and this latest success is anticipated to enhance its competitive edge in future bids. "We will ensure the delivery of high-quality trains that provide safe and convenient transportation for both local citizens and international visitors attending the 2030 World Cup," a Hyundai Rotem official said. (Yonhap)
