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Magnetic Levitation Propelled Train to Scuttle in Seoul in 2011
A magnetic levitation propulsion train is likely to skim Seoul streets in 2011.
The government decided to commercialize a city-model magnetic levitation propulsion train that goes at 110km per hour by investing 450 billion won (US$474 million) by 2011. Through this, the government expects to gain a turnover of 270 billion won (US$284 million) and a production induction effect of 900 billion won (US$950 million) every year.
By financing Korean Air, KAI, and Samsung Techwin with 20 billion won (US$21.1 million) this year and with 30 billion won (US$32 million) next year, the Ministry of Science and Technology (MOST) is going to help these Korean enterprises participate in next-generation civilian airplane international joint development with France's Airbus and US's Boeing.
Under the superintendence of Deputy Prime Minister Kim Woo-shik of MOST, the government is fixed to drive forward a City-model magnetic levitation propulsion train, a civilian airplane international joint development project propulsion plan, a biological R&D commercialization facilitation strategy, and a seed industry development plan. The magnetic levitation propulsion train, first off, is forecast to take 5 years for technology supplements and pilot route construction and one year for composite pilot operation.
This pilot route will be selected during the course of the first half next year. The government plans to insert a magnetic levitation propulsion train into some of their basic city train routes in Daegu, Daejeon, North Jeolla Province, Masan, Changwon, Incheon and Incheon International Airport. Regarding the civilian airplane international joint development project, the government plans to finance domestic aviation- related enterprises so that they can participate in it as a Risk Sharing Partner (RSP). The project includes developing an A350-XWB airplane in which US$10 billion will be invested by Airbus, and a B787 model airplane, Boeing's US$13.4 billion project plus A350 as well as a Genx project for B787 in which US$3 billion will be invested by US's GE.