PM promotes Hyundai Rotem in Brazil
By Lee Min-hyung
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Prime Minister Lee Nak-yon
Prime Minister Lee Nak-yon has engaged in “sales diplomacy” in Brazil, asking the country to consider carefully a Hyundai affiliate for a state-run railroad project.
According to the prime minister's office, Lee met Sao Paulo Mayor Joao Doria on Saturday, discussing ways to enhance business ties. The meeting was part of Lee's eight-day visit to the Dominican Republic and Brazil.
Both sides agreed to tighten partnerships in such areas as electricity, energy and train systems.
“South Korea's railway vehicles manufacturer, Hyundai Rotem, hopes to participate in Brazil's main-line railway project that connects Sao Paulo and Campinas,” Lee told Doria. The Sao Paulo mayor said he would keep the company in mind and noted that both countries could develop not just trains, but also electric buses.
Hyundai Rotem aims to supply subway trains worth up to $400 million (427.4 billion won), for Brazil. The Hyundai affiliate is rapidly expanding overseas with train contracts in such countries as Canada, Turkey and India.
“My view is that Korean companies in Brazil should not operate business only to seek profits,” Lee said. “They also have to create jobs for local people and contribute to developing the country.”
During the meeting, Doria expressed his wish to expand partnerships in four areas particularly ― transport, education, environment and city maintenance.
Lee said the state-run Korea Electric Power Corp. has expertise and experience in exporting transit fare collection systems and managing underground electricity projects.