□ Korean delegation of government officials and business representatives (Heads of delegation: Mr. KIM Yong-suk, Director General for Airport and Air Navigation Policy of Ministry of Land, Infrastructure and Transport(MOLIT) of Korea and Mr. LEE Kun-ki, Chairman of International Contractors Association of Korea) will visit Peru and Costa Rica from March 16 to 27, 2019.
ㅇ The official visit, which will include meetings with ministers and high-level officials in charge of infrastructure, will help Korean companies interested in projects in the countries and promote bilateral cooperation in the field.
□ The schedule of the delegation in Peru and Costa Rica includes the following.
□ In Peru, the delegation will convey its interest in Chincheros International Airport project and Lima Metro Line projects (lines three and four).
□ Peru is a country with immense growth potential thanks to its vast territory (six times larger than Korean peninsula) and ample natural resources. The IMF estimates the country to grow by 4% this year, the highest rate in Central America.
ㅇ Accordingly, construction and infrastructure development in Peru will continue to expand. Through various projects, Peru is planning to extend its road and rail networks in pursuit of balanced development and increase access to basic services such as water treatment, water supply and electricity supply.
□ During its planned meetings with the President (non confirmed), Minister of Transport and Communications and relevant authorities, the delegation will discuss Chincheros International Airport project ( $ 500million construction and operation project, bidding result to be released in June) and Lima Metro Line projects ($ 10 billion construction project, bidding starting during the fourth quarter of this year). The government of Peru plans to implement the projects on G2G basis.
ㅇ Eight countries including France, Canada and America along with Korea showed interest in the airport project. As for Korea, it formed a consortium comprised of Korea Airports Corporation, an airport operator of Korea, and leading E&C companies. Emphasizing their strengths in technology and experience, the delegation will explain how its participation in the project will make Chincheros International Airport a regional hub.
ㅇ For Lima Metro Line 3&4 projects, Korea will appeal to its record of having provided supervision for the Line 2 project (by Dowha Engineering, 2015) and discuss how to extend that cooperation to the new metro projects.
□ In Costa Rica, Korean delegation will explore bilateral cooperation on metro development in the Greater San Jose Area and infrastructure development in general.
□ Last October, the First Lady of Costa Rica, Ms. Claudia Dobles Camargo, met H.E. KIM Hyun-mee, Minister of MOLIT during her visit to Korea. With its visit, the delegation wishes to build on the momentum and give Korean companies opportunities to participate in projects in Costa Rica.
ㅇ Among such projects, metro development in the Greater San Jose Area ($ 1.6billion project, bidding to start in 2020) and freight rail modernization in Limon ($ 450million project (including F/S development worth $750,000), bidding during the second half of 2020 (bidding for F/S in March)) will be discussed during its planned meeting with the First Lad(non confirmed), ministers and officials in charge of the projects.
ㅇ Agendas at the meetings will also include utilization of Korea’s ODA for station area development plan, a project likely to be implemented in conjunction with the metro development project, invitation training for Costa Rica officials and MOU signing in the railway field.
□ One MOLIT official said “The outlook of infrastructure market in Central America remains bright. Our visit to Peru and Costa Rica will deliver both concrete results in the form of Korean companies winning several contracts in the region and long-term benefits by enhancing Korea’s competitiveness in the market.”
ㅇ “ To take advantage of this, the Korean government will support Team Korea, a public-private consortium that jointly bids for infrastructure projects overseas while promoting other activities that enhance Korea’s competitiveness such as introduction of various financing schemes and sharing of information.”