With its advanced development in IT technology and mechanical engineering, Korea's exports are becoming more diverse.
The Incheon International Airport Corporation is in the process of striking a US$31 million with Iraq on airport operations. The deal originally came about with Iraq's request to benchmark Korea's state-of-the-art airport operation system for its own international airport in the city of Irbil. Incheon was named world's best airport by Airports Council International several times last year for its operational excellence, customer service and cost-efficiency improvements.
And since becoming the world's fourth country to develop an express bullet train capable of traveling 300 km per hour, Korea has been searching for new projects overseas in places like Brazil, Turkey and Russia. In fact, a special group organized by the government, the Korea Railroad Research Institute and the Korea Railroad Corporation, was in Brazil's Sao Paulo last week vying for a $20 billion high-speed train project there.
Seoul has also sold several subway trains to Vietnam to get tourists from Hanoi to Halong Bay. As Vietnam hopes to expand and improve its subway system, the Seoul Metropolitan Subway says the goal is to export as many trains there as possible.