Seoul to Busan in 20 Minutes... POSCO Inter 추진 Dream Transport Hyperloop

Netherlands HARDT and Business Agreement Ceremony

[Asia Economy Reporter Kiho Sung] POSCO International announced on the 1st that it is partnering with HARDT Hyperloop, a global leading company in hyperloop based in the Netherlands, to promote a hyperloop cooperation project, a next-generation future transportation method.

On the 1st, POSCO International held a business agreement ceremony in Songdo, Incheon, attended by President Ju Si-bo and HARDT CEO Bertrand van Ee.

Through the agreement, the two companies will ▲ supply POSCO steel to the hyperloop pilot complex EHC under construction in the Netherlands ▲ jointly cooperate on hyperloop business marketing ▲ expand collaboration as comprehensive business partners, including plans for equity investment in HARDT.

Hyperloop is a compound word of ‘Hypersonic,’ meaning supersonic speed, and ‘Loop,’ meaning connection. It is a new concept transportation method where a magnetic levitation capsule moves at ultra-high speed inside a near-vacuum (0.001 atm) tube with almost no air resistance.

In particular, it can achieve speeds of 1,200 km/h, making it a dream transportation method capable of covering the Seoul-Busan distance in just 20 minutes, attracting worldwide attention.

POSCO International became interested in hyperloop because it is expected to bring a major innovation in future transportation following electric vehicles. Additionally, the various advantages of hyperloop, such as eco-friendliness, economic efficiency, and safety, are expected to promote development not only in transportation but also in various industries including materials and IT.

POSCO International plans to supply dedicated steel for the additional EHC pilot section scheduled for 2024 and gradually invest in the EU network project, which is expected to be commercialized in 2029, to secure market leadership.

Furthermore, by combining POSCO’s steel material technology, POSCO Engineering & Construction’s infrastructure construction technology, and POSCO Mobility Solution’s track manufacturing technology, POSCO Group aims to continue expanding the hyperloop industry ecosystem.

POSCO International President Ju Si-bo stated, “In the past, general trading companies could survive by finding business opportunities within the framework of existing industries, but now, without creating a new paradigm, sustainable growth is impossible. As an investment-type business company, we will break free from fixed ideas and enhance corporate value through discovering creative future eco-friendly businesses and active investment.”

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