Korea Collaborates in TGV Construction

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Korea Collaborates in TGV Construction

President Kim Dae-jung, currently visiting France, has forged an agreement on $2.1 billion investment in Korean SOC (Social Overhead Capital) from French companies, after an official meeting with French Prime Minister Lionel Jospin, at 8pm local time March 8.

Lee Ki-ho, senior presidential secretary for economic affairs, said that according to the agreement, the Videndi Group Company will invest $10 billion in 26 sewage-processing plants in Korea, while the SGE Company will put $700 million into building a bridge between Masan and Changwon and the construction of a Pusan northern port bridge. Additionally, Alstom will invest $400 million in both Inchon International Airport railroad and limited train service.

Presidential spokesman Park Joon-young said that the president will seek to solve the problem of the French return of the Kyujanggak (Royal Archives of the Chosun Kingdom) in a friendly way.

In the meeting, Jospin asked Kim to allow the participation of French companies in the Korean military industry, including supplying next-generation submarines and fighter planes.

Kim also reached an agreement with French President Jacques Chirac in the March 6 official meeting on Korea's collaboration with France on the construction of a TGV (Train a Grande Vitesse) network in other nations, including a railway between Beijing and Shanghai.

by Kim Jin-kook

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