491 billion won! South Korea's Hyundai won the contract for the Ho Chi Minh City Metro Line 2 projec

Rail Transit Exhibition News Under the promotion of South Korean President Lee Jae-myung's visit to Vietnam, South Korea and Vietnam officially completed the signing of the contract for the Ho Chi Minh City Metro Line 2 project on April 23. The project was awarded by Hyundai Rotem with a contract amount of approximately 491 billion won for the supply of Ho Chi Minh City Metro Line 2 vehicles + signaling systems

President and CEO of Hyundai Rotem and Chairman of the Thaco Group

A group photo was taken at the signing ceremony of the Ho Chi Minh City Metro Line 2 project held in Hanoi, Vietnam

The achievement of this project is considered closely related to the active promotion at the government level of South Korea and Vietnam. The South Korean government has provided all-round support under the framework of the "pragmatic diplomacy" policy, especially after the leaders of the two countries reached a consensus on deepening cooperation, creating favorable conditions for South Korean rail transit equipment to enter the Vietnamese market.

Under the contract, Hyundai Rotem will supply driverless trains for Ho Chi Minh City Metro Line 2 to Thaco Group. At the same time, the two parties also signed a memorandum of understanding (MOU) for the supply of signaling systems on this line, creating an opportunity for Korean companies to provide driverless signaling systems overseas for the first time

Ho Chi Minh City Metro Line 2 is a key urban rail transit project in Vietnam, scheduled to be completed and opened to traffic in 2030. The line has a total length of about 64 kilometers and 36 stations, and construction began in January this year and will be implemented in three phases. After the completion of the project, it will effectively alleviate the pressure of urban commuting and improve the level of public transportation services.

During the project process, Hyundai Rotem continues to strengthen cooperation with Thaco Group to promote localized production layout. According to the plan, some vehicles will be produced at Thaco's plant in Vietnam to support the Vietnamese government's strategy to develop the local railway industry and expand the space for medium- and long-term cooperation between the two sides

Industry insiders pointed out that this project will not only help Hyundai Rotem open up the Vietnamese market, but also drive about 500 supporting enterprises in South Korea to "go overseas", providing new opportunities for the Korean rail transit industry chain to expand overseas markets

Hyundai Rotem said that this entry into the Vietnamese rail market is a milestone, and the company will take this opportunity to deepen local cooperation, continue to expand business areas, and strive to become a long-term partner in promoting the development of Vietnam's rail transit industry, while providing support for the overall development of South Korea's rail transit industry

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