Korea vies for light rail project order in Paraguay

Won Hee-ryong (right), South Korea’s Minister of Land, Infrastructure, and Transport, who visits Paraguay as a special envoy for Paraguay’s inauguration ceremony, meets with President Santiago Pena Palacios and delivers a letter from Korean President Yoon Suk Yeol on Aug. 14. (local). [Courtesy of Ministry of Land, Infrastructure, and Transport]

Won Hee-ryong, South Korea’s Minister of Land, Infrastructure, and Transport, embarked on a visit to Paraguay to promote Korea’s participation in the much-anticipated light rail project in Paraguay.

According to the land ministry on Tuesday, Won met with the incoming Paraguayan President Santiago Pena Palacios and Paraguayan President of the Senate on Monday to explore the involvement of Korean companies in the Asuncion light rail project.

“I hope the rail project completes in time to give broader access to Paraguayan citizens,” Won said, expressing anticipation for the enactment of a special law that would enable Korean companies to secure project orders.

Won also delivered a letter from Korean President Yoon Suk Yeol to the Paraguayan president, who pledged support for the law enactment.

The 800 billion won ($600 million) Asuncion rail project in Paraguay aims to connect the country’s capital with the suburb Ypacaraí.

The project, a joint partnership between public and private sectors, involves a consortium of Korean companies and state-run enterprises, including the Korea Overseas Infrastructure & Urban Development Corporation (KIND), the Korea National Railway, Hyundai Engineering & Construction Co., and Kyeryong Construction Industrial Co. and LS Electric Co.

In September 2021, the land ministry entered into a memorandum of understanding with Paraguay‘s Ministry of Public Works and Communications to foster business collaboration. The Paraguayan government introduced a special legislation to the Parliament in the same year. However, the legislation has remained pending.