Hyperloop Transportation Technologies has found a few new licensee clients for its Hyperloop technology, a group of South Korean entities including the government and two of its educational institutions, who will use HTT's research and tech to construct a full-scale Hyperloop network. HTT and South Korea will also work together on research and development, help develop a safety platform and safety standards, and figure out the passenger experience.
The South Korean Hyperloop project will be called the HyperTube Express, and it's backed by the Korean Department of Technological Innovation and infrastructure. The schools involved are the Korea Institute of Civil Engineering and Building Technology (KICT) as well as Hanyang University, which is South Korea's leading engineering research school.
Back in January, reports suggested that South Korea was working on a Hyperloop-like high-speed rail network for the country, spearheaded by the Korea Railroad Research Institute. Said project was said to be called the Hyper Tube Express at the time, but the involvement of Hyperloop Transportation Technologies, which is a multi-year partner owing to the licensing deal, wasn't previously announced.
The HyperTube Express, should it go as planned, would be able to bring passengers from Seoul to Busan in just under 20 minutes, which is much shorter than the current three-hour car ride required to make that trip.
Written by Darrell Etherington for TechCrunch.