Ricardo to support KRRI in commercialisng its technologies for overseas markets

Ricardo has signed a Memorandum of Understanding (MoU) with the Korea Railroad Research Institute (KRRI) that will see our teams help KRRI introduce their technology research and products overseas.

KRRI has recently launched a new internal division dedicated to commercialising its rail technology research and were seeking a technical partner with knowledge of their technologies, but also experience of, and connections within, overseas rail markets.

Picture: Myung Sagong (l) and Michael Newman (r)

KRRI and our rail team in Seoul have previously signed an international joint certification cooperation agreement in 2015 to enhance railway safety and have co-hosted the “International Railway Seminar on Safety Certification” every two years since, sharing global trends and case studies for improving railway safety.

Furthermore, through our network of technical rail centres across the world, including in North America, Europe, the Middle East and the Asia-Pacific region, we can offer valuable insights of systems integration processes in different territories, as well as experience of performing safety assessments and EU TSI certifications for railway products and projects. All of which meant Ricardo was chosen as an ideal partner to support KRRI with their ambitions to expand beyond the domestic market in South Korea. 

To mark the signing of the MoU in Seoul on Wednesday, August 13th, Michael Newman, Global Managing Director of Ricardo Rail, said: “We have formed a partnership with KRRI to introduce their various technologies, including those related to safety, climate response and digital solutions, to Ricardo’s global rail project portfolio. Based on this partnership, we will strive to apply KRRI’s excellent technologies in the global market.”

Myung Sagong, President of KRRI, remarked, “Through this agreement, we will endeavour to increase the potential for KRRI’s diverse technologies to be adopted overseas and to expand their use within the domestic railway industry. We will also make every effort to promote the practical application of these technologies in the global railway market by leveraging our technological expertise.”