Proposed as the ‘dream train’ and known as the Hyperloop, this innovative mode of transportation is envisioned to operate between Seoul and Busan in South Korea, with departures every 20 minutes. This innovative mode of transportation features trains that travel at speeds close to the sound barrier within a vacuum tube. High-profile figures such as Elon Musk of Tesla and Richard Branson of the Virgin Group have championed the Hyperloop as the future of transportation, sparking a global technological competition.
The Hyperloop’s final target is a speed of 1000 kilometers per hour. Researchers worldwide strive to achieve this, with China recently setting a new record. The China Aerospace Science and Industry Corporation (CASIC) reached 623 kilometers per hour during a 2-kilometer test run of its indigenous Hyperloop system, the T-Flight, marking the highest speed recorded for a Hyperloop. CASIC plans to enhance the T-Flight’s performance by incrementally extending the test distance.
Countries such as Germany and Canada are also advancing the development of Hyperloop technology, aiming for commercialization by the mid-2030s, albeit with varying levels of progress.
Conversely, despite being a global leader in advanced rail technology, including high-speed rail, Korea has recently suspended its Hyperloop development efforts. Although Hyperloop is recognized as a pivotal future transportation technology alongside bullet trains capable of 400 kilometers per hour, Korea has given up on its development.
The Hyperloop initiative in Korea was known as the Hypertube technology development project, led by the Ministry of Land, Infrastructure, and Transport and the Ministry of Science and ICT. This project aimed to secure eight fundamental technologies necessary for the commercialization of the Hyperloop, with a target timeline from 2025 to 2030, constituting a significant R&D effort with $252 million (337.7 billion won) allocated for Phase 1 and $589 million (789 billion won) for Phase 2.
However, the project did not pass last year’s preliminary feasibility study. Despite preparations since 2018 by relevant research institutes and government departments, economic feasibility issues have hindered progress.
The initiative planned to construct a 2-kilometer test bed in Saemangeum to develop essential vehicle technology, propulsion systems, magnetic levitation, and integrated operational systems for the Hyperloop. However, all technological development has been halted due to concerns about economic viability.
A preliminary feasibility study by the Science and Technology Policy Institute (STEPI), which ChosunBiz revealed, questioned the Hyperloop project’s viability. The report highlighted the challenges in verifying the Hyperloop technology’s specifications for 1200 kilometers per hour over a 2-kilometer test stretch. However, it is noteworthy that numerous global research entities, including China’s CASIC, have begun verifying Hyperloop technology over 2 kilometers. A researcher said, “Pointing out how to validate Hyperloop technology at 1200 kilometers per hour on a 2-kilometer section is a sign of ignorance of the technical content.”
The 12 evaluators involved in the report were divided on the policy feasibility of a Korean Hyperloop project, with five in favor and seven against. However, all 12 evaluators agreed on the lack of economic feasibility. The report concluded that Hyperloop is not economically viable since the underlying technology does not yet exist. It is argued that the current business plan focused on core technology development cannot be linked to commercialization benefits and thus lacks economic justification.
The report also contradicted the Korean government’s 2044 target for Hyperloop commercialization, citing “high uncertainty and the risk of incurring significant sunk costs should a specific technology development fail.” This perspective is at odds with President Yoon Suk-yeol’s emphasis on innovative R&D that embraces failure. In the case of the Hyperloop, a technology that has garnered global enthusiasm and investment for its futuristic potential, the government has withdrawn its initial funding, citing “high uncertainty and risk.”
