S. Korean firms eye U.S. bullet train project

By Kim Deok-hyun
SEOUL, May 29 (Yonhap) -- About 10 South Korean engineering and rail companies
are preparing to bid for a lucrative bullet train project by the U.S. state of
California, a government trade agency said Friday.

Though still at an early stage, California plans to spend billions of dollars to
build a high-speed railway, which would link major cities with service at a speed
of up to 220 miles-per hour.
South Korea's state-run Korea Railroad Corp. and private companies such as POSCO
Engineering & Construction Co. and Hyundai Rotem Co. are lining up for the
potential California project, said the Korea Trade and Investment Promotion
Agency.
To support their preparation, the government agency signed a memorandum of
understanding with Korea Railroad earlier in the day, said the agency chief Cho
Hwan-ik in a statement.
"We will make major efforts to help South Korean firms win the project," Cho said
in the statement.
A public tender for the California bullet train project may be held at the end of
this year, according to the agency.
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