Korea National Railway Signs Mongolia Rail MOU
The Korea National Railway signed a memorandum of understanding (MOU) for cooperation on the joint promotion of major railway projects in Mongolia with the Ulaanbaatar Railway (UBTZ) of Mongolia at the Seoul metropolitan headquarters on Sep. 30. This cooperation was arranged so that the Korea Nation
On September 30, the Korea National Railway signed a memorandum of understanding (MOU) with the Ulaanbaatar Railway (UBTZ) of Mongolia for joint promotion of significant railway projects. This collaboration aims to leverage the Korea National Railway's extensive experience in overseas railway projects and UBTZ's expertise in operating and maintaining Mongolia's railway infrastructure.
Both organizations plan to cooperate on information exchange, joint project discovery, and the construction of short-, mid-, and long-term railway networks in Mongolia. A key focus of their partnership is the promotion of a double-track improvement project for the 1,111km section from Altanbulag to Zamiin-Uud on the Trans-Mongolian Railway, which is crucial for resource transportation and international logistics.
By enhancing transportation capacity, this project is expected to bring about significant improvements. Beyond physical infrastructure, the sides aim to strengthen cooperation in software aspects by establishing a mutual exchange system covering educational programs and professional talent development in the railway sector. This MOU stems from the Korea National Railway's long-standing trust in Mongolia, which was first established in 2021 with a contract for a 42.5 billion won ($32.69 million) signaling and communication system construction project.
The successful completion of this project paved the way for the company to secure a 58 billion won ($44.62 million) contract for the Ulaanbaatar subway PMC project in 2024. Jeong Jin-hyuk, chairman of the Korea National Railway, expressed optimism about the expanded exchange and cooperation opportunities between the two nations, emphasizing their commitment to achieving tangible results, such as securing additional projects in the Mongolian railway sector.
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