Seoul's T-money system advances into Malaysia

Seoul City's advanced transportation system has been attracting the world's
attention and is becoming the subject of benchmarking.

The Seoul Metropolitan Government and Korea Smart Card Co., Ltd. have been
selected to implement their new transportation card system "T-money" in
Kuala Lumpur. Accordingly, specially devised card readers for the advanced
fare collection system will be installed in 1,000 local buses of the capital
city of Malaysia by the end of July 2006.

With a consortium of four companies, 'Pradonet Sdn Bhd,' 'IRIS Corp Berhad,'
'LG CNS,' and 'KDE Co.,' Seoul City made a public bid, which itself drew
keen interest from the Malaysian local government. The consortium received
the highest marks for the system's cutting-edge system for calculating
traveling distance and fares based on travel time, and designing a database
to make effective transportation-related policies.

Director Goh Hongseok of the Public Transportation Improvement Division of
Seoul Metropolitan Government, said, "Seoul City now has an opportunity to
internationally promote the city's high-tech transportation system. This is
the first case for Seoul City's traffic system to make inroads into world
markets. That means the world is recognizing Seouls excellence in new
transportation systems."

Taking this opportunity, the cooperation between Seoul and Kuala Lumpur will
be further expanded since the capital of Malaysia is also planning to
introduce the new transpiration system into other the metropolitan areas.

Meanwhile, more and more cities in the world have been seeking to learn
about Seoul Citys advanced transportation system. Seoul and Beijing, and
Seoul and Istanbul, respectively in March and in August 2005, signed MOUs to
transfer technologies used for Seouls new transportation system.

In addition, Seoul will be hosting the 5th general meeting of the
International Union of Public Transport (UITP) in June 2006. International
experts in transportation, businesspeople and public officials from 30
countries are expected to participate in this biannual meeting to exchange
opinions about the present and the future of the public transportation and
to establish business networks.

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