New business opportunities in Korea

Nishant Mittal (CEO), and Jens Kleeberg (CSO),  recently traveled to Ulsan, South Korea, to meet with Mayor Doo Gyum Kim and State Secretary for Political Affairs Sang-Jin Lim, together with General Manager of RAILONE Korea Ltd Hogyu Chang.

At the meeting, they discussed future cooperation on the major "Ulsan Tram" project, which involves the construction of four lines with a total length of 48.25 km to connect Ulsan KTX station with the inner city centers. The major project will be built in two phases. Phase 1 is scheduled to go into operation in 2027, followed by Phase 2 in 2030.

The metropolis of Ulsan is well known as the fifth largest city in South Korea and as the home town of HYUNDAI's "Motors" and "Heavy Industry" divisions.

We will continue to work closely with the city officials and other partners to successfully implement the "Ulsan Tram" project and expand our relationships in the region. We are confident that this trip was an important step in significantly supporting and advancing the development of the region's infrastructure and look forward to being kept informed of further developments.