The 10th edition of RailLog Korea, the international trade fair for railway technology, infrastructure and logistics, will take place from June 16 to 19, 2021 at the Busan Exhibition & Convention Center (BEXCO), in Busan, South Korea. The 10th edition will assemble advanced equipment from global players across an expanded exhibition space, including parts and components, rolling stock and logistics technology.
Achieving growth of 88% since its first edition in 2013, RailLog Korea is on track to continue its positive momentum. Mr. Yong-Joon Jin, Managing Director of Messe Frankfurt Korea Ltd., commented: “I am delighted that RailLog Korea is nearing its 10th edition milestone. Continued exhibitor and visitor support over the years has helped us achieve both qualitative and quantitative growth. Prospects are bright as we move forward into the 10th edition, thanks to major government investment in the railway vehicle parts sector, and the growing trend toward eco-friendly modes of transportation. To meet the space needs of exhibitors, for the first time the exhibition will be expanded into Hall 3A of the Busan Exhibition & Convention Centre, taking the total number of halls from two to three.”
Among many strengths of RailLog Korea is its coverage of the latest train vehicles. For the 2021 edition, leading rolling stock manufacturers including Hyundai Rotem, Dawonsys and Woojin are expected to participate in the fair, offering a major attraction for trade buyers.
Growth potential in the Korean railway industry
Korea’s railway market sees further growth potential, aided by the current conciliatory atmosphere on the Korean Peninsula. After the historic inter-Korea summit in April 2018, the idea of restoring the disconnected cross-border traffic route gathered momentum again. The reconnection of the trans-Korean railway will bolster inter-Korean economic cooperation, creating a cornerstone for the planned Trans-Asian Railway (TAR) network, and generating lots of business opportunities.
The South Korean government is planning to invest 130 billion won (approx..US$ 121 million) from 2020 to 2026 to boost the country’s railway vehicle parts sector. In particular, it plans to replace old rolling stock during 2020 – 2024. In addition, central and local governments are promoting the expansion of railway and subway networks as eco-friendly alternatives to road transportation, aiming to usher in a ‘Green Transportation Era.’
Other recent projects also bode well for the Korean railway industry. The Seoul government has approved the 16.15km West Line light rail project, and construction will start in 2023. The Great Train eXpress (GTX) project, a high-speed rail network in the Seoul Metropolitan Area, is also set to go ahead. GTX line A is expected to open in 2024, with the Seoul government placing an order for a total of 20 eight-car trainsets for the line.
The construction of GTX line C is planned to start next year.
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