Korean rail firm still eyeing HSR project (Updated)

KUALA LUMPUR: South Korea hopes to clinch the Kuala Lumpur-Singapore High Speed Rail (HSR) project despite intense lobbying by two Asian powerhouses.
The Koreans are banking on their success in developing their own HSR technology and construction methods for the past 12 years.
Korea Rail Network Authority regional representative Yoon Chi Man said it will offer Malaysia and Singapore, "a distinctive business model in terms of project planning and cost".
"We are also willing to share our experience with Malaysia in developing independent technologies which can greatly reduce maintenance costs and will help the two countries in the long run," he told theSun.
"We believe we are in a better position for this project," he added.
In an interview with China's business publication 21st Century Business Herald in April last year, former Land Public Transport Commission chief executive officer Mohd Nur Ismal Kamal had stated that safety was the first determining criteria for the 350km HSR project.
"At the same time, the total project cost must also be considered. "What I am referring to is not the initial cost of the project, it also includes the subsequent operation, maintenance and repair costs," said Nur Ismal, who is currently MyHSR CEO.
The international tender to supply trains for the KL-Singapore HSR is expected to be called in the fourth quarter of 2017.
Asked on the recent development with China and Japan early exertion to woo Malaysia for the HSR job, Yoon replied: "Our willingness to share our HSR technology with Malaysia will set us apart from the competitors."
He said most HSR technologies in Korea have been developed and owned by public agencies including the development of its own rolling stock.
"Whereas in contrast to the private sector, it developed and owned most of the technologies," said Yoon, adding that Korea has improvised the French technology after adopting it in 1994.
Operated by Korail (Korea Railroad Corporation), the first HSR ran from Seoul to Busan in April 2004. Since then, it has achieved on-time performance punctuality of 99.88%.
South Korea is the fifth country in the world to run a 300km/h HSR train after France, Germany, Japan and Spain.
A third HSR line in South Korea known as Seoul Super Rapid Train, running 86% in tunnels on the 61.1km dedicated track, will be opened officially next week, connecting southern Seoul with Gyeongbu and Honam HSR lines.