Hyundai Rotem wins $330 million train contract in Vietnam

SEOUL, April 23 (UPI) -- South Korea's Hyundai Rotem said Thursday it signed a $330 million contract to supply trains for a project in Ho Chi Minh City, Vietnam.

Hyundai Rotem will deliver driverless trainsets to THACO Group, a major Vietnamese conglomerate that is leading Ho Chi Minh City's Metro Line 2 project.

The initiative involves building a 40-mile subway line with 36 stations in Vietnam's largest city in terms of population.

The line, which is scheduled for completion in phases by 2030, is projected to significantly reduce commuter congestion and improve urban mobility in the city of about 14 million people.

Hyundai Rotem expected the deal to help it create a foothold in Vietnam's promising railway market.

Vietnam is pursuing large-scale infrastructure projects, including the planned North-South high-speed railway, which is estimated to be cost about $67 billion.

"By entering the Vietnamese rail market for the first time, we have expanded our business reach and established a meaningful foundation for local cooperation," Hyundai Rotem said in a statement.

"We aim to establish ourselves as a long-term partner that contributes to the growth of Vietnam's railway industry, while exploring new business opportunities to serve as a solid platform to support Korea's rail sector," it added.

Hyundai Rotem share gained 0.21% on the Seoul bourse Thursday. It is an affiliate of Hyundai Motor Group, South Korea's leading automaker.

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This story was originally published April 23, 2026 at 6:59 AM.