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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
16-04-2025
- Business
- Korea Herald
S. Korean delegation to visit UAE for high-speed rail, infrastructure bids
A high-level South Korean delegation plans to visit the United Arab Emirates this week to bolster Seoul's bids for high-speed railway and infrastructure projects in the Middle East nation, the Ministry of Land, Infrastructure and Transport said Wednesday. Led by Land Minister Park Sang-woo, the delegation will meet with UAE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei on Friday to discuss bilateral cooperation in the transport and infrastructure sectors, with a focus on the UAE's envisioned high-speed railway project connecting Abu Dhabi and Dubai. The ministry has formed a public-private sector team, including the state-run Korea National Railway, Korea Railroad Corp., Hyundai Rotem Co. and POSCO E&C Co., for the UAE railway project bid. The team has passed the prequalification stage of the bidding process. The delegation plans to emphasize South Korea's technological excellence and economic viability of its high-speed rail models, citing recent successes in securing high-value export deals from Uzbekistan and Morocco. The delegation will also discuss follow-up cooperation based on a memorandum of understanding signed last year during the UAE president's state visit to South Korea Under the agreement, South Korea and the UAE aim to jointly enter third-country infrastructure markets, particularly in post-conflict recovery zones, by combining South Korea's construction expertise with UAE's financial capabilities. (Yonhap)
Korea Herald
20-03-2025
- Korea Herald
Authorities mull overhaul of state railway plan in Gangwon Province, amid bribery controversy
The state-run operator of South Korea's national railroads said Thursday it will consider an overhaul of its ongoing plans to construct a railroad in Gangwon Province, after its route was found to have been tampered with during the planning stage. The Korea National Railway said that it will re-examine from scratch the outlines for the planned 8.13-kilometer railway section connecting the cities of Chuncheon and Sokcho in the province. The decision by the KNR followed controversy after local media outlets reported that the 51-year-old owner of a plot of land in the middle of the planned railway is likely to receive compensation for his land being used in the state project, despite the court ruling finding him guilty for unlawfully interfering with the plans for the new railroad. According to a report by local Yonhap News agency, the original plans involved the new section being right in front of the person's land, which made him fear that the noise would bring down his property value. He approached a high-ranking official of the engineering firm that was commissioned for the railway's layout, and requested a new route that would bypass his own land. A person whose land is to be used in a state project is entitled to compensation, in accordance with the Act on Acquisition of and Compensation for Land for Public Works Projects. A new route was proposed to the authorities, and the official of the engineering firm was handed 200 million won ($137,000) on two occasions by the land owner. The land owner and the firm official were each found guilty of taking part in bribery involving the state project, with the former receiving a suspended prison term and the latter receiving a jail term. The land owner decided not to appeal after the appellate court ruling. Despite this illegal act that occurred in the planning phase, the KNR initially sought to push ahead with the plan. The part that passes through the land in question had been under review of the affiliated agencies, which confirmed would have resulted in the land-owner will receive 3 billion won in compensation despite tampering with the railway plan. This is because of a legal loophole in the aforementioned land compensation act, which does not address the unlawful activities that happened regarding compensation during the planning phase of the state project. Officials of the KNR said their legal consultations told them that there is no way to punish or deny compensation in this case, although they vowed to ensure that the engineering firm involved will be banned from the railway authority's future projects. But with the decision for an all-out review of the plans, it is possible that the KNR could decide on a new railway route that will not pass through the land in question.
