Woori Technology Begins Exporting Vertical Screen Doors to China... "Targeting 120 Trillion Won Market"

[Asia Economy Reporter Jang Hyowon] Woori Technology has succeeded in developing a vertical platform screen door (VPSD) for the Chinese market and has completed the export of prototypes. This is expected to further accelerate the overseas market expansion of the railway screen door business, focusing on the Chinese market worth 120 trillion KRW annually.

Woori Technology announced on the 15th that it has succeeded in developing a Chinese-style VPSD prototype through research cooperation with China’s Jiacheng Railway Traffic Safety System Co., Ltd. (hereinafter JCI) and has completed the first export of prototypes.

Starting with this prototype export, Woori Technology plans to jointly promote the screen door market to potential customers such as local railway companies and construction companies in China together with JCI.

In November last year, Woori Technology signed a memorandum of understanding (MOU) for joint research on platform screen doors with the China State Railway Corporation (CRC) subsidiary, the 4th Inspection and Design Institute Group Co., Ltd. (CRC 4th Design Institute), and in December last year, it signed an MOU related to VPSD supply with JCI, a Chinese private railway specialist company.

Over the past five years, the Chinese government has continuously made large-scale investments exceeding 120 trillion KRW annually in the Chinese railway market. Especially this year, with the introduction of the Chinese version of the New Deal policy called ‘Xinjijian’ (新基建) due to COVID-19, new infrastructure construction in the public sector has emerged as a major issue, and more than 2,000 km of high-speed railway lines are planned to be newly established this year alone. Accordingly, the railway-related market, including screen doors, is expected to grow rapidly.

‘Xinjijian’ is an abbreviation for ‘New Infrastructure Construction’ and was first mentioned at the Central Economic Work Conference in China in December 2018. It was also discussed as a major agenda item at the annual government work report in January this year. President Xi Jinping announced at that time that the investment amount over the next five years would be 10 trillion yuan.

A Woori Technology official said, “The VPSD prototype exported this time is the first achievement made through joint research with Chinese partners, and we have already started promotional activities with the local partner JCI and the ordering parties to secure pilot project orders. With COVID-19, new infrastructure construction in the Chinese public sector is attracting attention as the biggest issue for economic stimulus, so the market size of the Chinese railway business is expected to grow further.”

He added, “Based on this VPSD pilot project, we plan to expand screen door orders for urban railways, metropolitan railways, and high-speed railways in Beijing and Shanghai, with the related order scale expected to range from a minimum of 100 billion KRW to a maximum of 300 billion KRW.”

This content was produced with the assistance of AI translation services.