South Korea's Competitive Edge in UAE High-Speed Railway Project Bid
Key Ideas
- South Korean consortium, led by Korea National Railway and Hyundai Rotem, focuses on technology transfer and quality, giving them an advantage over Chinese competitors.
- UAE's $13.6 billion high-speed railway project is a significant opportunity for South Korea to showcase its capabilities in localisation and on-time delivery, potentially opening doors to more overseas projects.
- South Korea's push for hydrogen-powered trains aligns with global decarbonisation efforts, with plans to develop and commercialise these trains by 2028 to secure a leading position in the market.
- The global hydrogen train market is expected to grow to $26.4 billion by 2035, presenting a lucrative opportunity for South Korea's transport industry.
The South Korean consortium, comprising Korea National Railway, Korea Railroad Corp., Hyundai Rotem Co., and POSCO E&C Co., is competing with a Chinese rival for the UAE's $13.6 billion high-speed railway project. The consortium has passed the pre-qualification procedure, emphasizing technology transfer and product quality. South Korea's Transport Minister Park Sang-woo highlighted the focus on technology transfer over price, positioning Seoul favorably in the bid. The project aims to connect Abu Dhabi and Dubai with a high-speed train line by 2030, with South Korea's strength lying in localisation and on-time capabilities. Winning this bid could lead to further opportunities in the global construction market. Additionally, South Korea is working on developing hydrogen-powered trains to support the decarbonisation of the transport sector. The country plans to commercialise these trains by 2028, aligning with the global trend towards sustainable transportation. The global hydrogen train market is expected to see significant growth, reaching $26.4 billion by 2035. South Korea's initiatives in both high-speed railway projects and hydrogen-powered trains demonstrate its commitment to technological innovation and environmental sustainability.
Topics
Training
Decarbonisation
Transport Sector
Technology Transfer
Railway Technology
Global Market Expansion
International Construction
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