K-Rail One Team Provides Policy Advisory on Establishing Legal Framework for Vietnam Urban Rail Construction

The K-Rail One Team will serve as policy advisors for the establishment of the legal framework for urban railway construction in Vietnam. The K-Rail One Team consists of the Korea Rail Network Authority, Korea Railroad Corporation (KORAIL), KR International Co., Ltd., and Woosong University Industry-Academic Cooperation Foundation.

The K-Rail One Team announced on the 8th that it has signed a KSP (Knowledge Sharing Program) policy advisory service contract for the "Vietnam Urban Railway Construction Legal Framework Establishment Project," which was commissioned with funds from the Economic Development Cooperation Fund (EDCF) of the Export-Import Bank of Korea.

Exterior view of the Railway Headquarters located in Dong-gu, Daejeon. The Railway Headquarters houses the Korea Rail Network Authority and Korea Railroad Corporation (KORAIL). Provided by Korea Rail Network Authority

The KSP policy advisory is a knowledge-based development cooperation project that provides customized policy recommendations to partner countries based on Korea's economic development experience and knowledge. The Economic Development Cooperation Fund is a policy fund established to support industrialization and economic development in developing countries and to promote economic exchange between Korea and the supported countries.

Following the signing of the KSP policy advisory service contract, the K-Rail One Team will conduct a policy advisory project to systematize national technical regulations related to urban railways in Vietnam.

The project will proceed until September and includes ▲ on-site surveys for establishing Vietnam's legal framework ▲ proposals for improvement plans and strategies to attract urban railway investment ▲ sharing Korea's legislative promotion experience for urban railway development.

Additionally, based on the accumulated domestic and international know-how in railway construction, operation, and maintenance, the K-Rail One Team plans to propose policy directions for the development of Ho Chi Minh City's urban transportation and conduct training for policy practitioners. This will enable Ho Chi Minh urban railway officials to gain confidence in the development and technology of K-Rail by transferring Korea's railway project experience and technical know-how.

A representative of the K-Rail One Team stated, "We will use the opportunity of winning the Vietnam project as a stepping stone to secure additional projects in Southeast Asia, including Vietnam. Through this, we aim to export Korean railway technology to the world."

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