Korea National Railway signs MOU with Mongolia's UBTZ for joint rail projects

Korea National Railway announced Wednesday it signed a cooperation memorandum of understanding with Mongolia's Ulaanbaatar Railway (UBTZ) at its Greater Seoul headquarters to jointly pursue major railway projects in Mongolia.

UBTZ is a joint venture between Mongolia and Russia that operates and maintains key railway infrastructure in the country, including the Trans-Mongolian Railway (TMGR), which connects Russia, Mongolia and China and serves as a critical artery for international logistics and resource transport.

The MOU was designed to allow Korea National Railway, which brings overseas railway project experience and construction expertise, and UBTZ to exchange information on major railway projects and identify and develop joint ventures.

The two organizations plan to cooperate across a range of areas, including developing Mongolia's short-, medium- and long-term railway networks, pursuing a double-tracking upgrade of the 1,111-kilometer Altanbulag–Zamiin-Uud section of the Trans-Mongolian Railway, and advancing education and talent development in the railway sector.

Korea National Railway President Jeong Jin-hyeok said he hoped the MOU signing would "further broaden the scope of exchange and cooperation in the railway sector between the two countries." He added that the organization would "do its utmost to generate tangible results — including securing additional railway project contracts in Mongolia — based on each side's experience and capabilities."

Korea National Railway has been demonstrating the competitiveness of South Korean railway technology in Mongolia. In 2021, it won a contract for the Tavan Tolgoi–Zuunbayan signal and communications system project — Mongolia's first government-financed project — worth 42.5 billion won ($31.3 million), and in 2024 secured a contract for the Ulaanbaatar Metro PMC project worth 58 billion won.

Meanwhile, Korea National Railway plans to hire a total of 184 people in the second half of this year, comprising 103 new and experienced staff members and 80 youth interns. Applications will be accepted on the organization's recruitment website through Oct. 7. Final successful candidates are expected to be announced in December, following document screening, written and interview rounds.