This is the first phase of a project to build a new north-south hi-speed railway line. KOICA handed over the report, which took two years to complete on the RoK government's non-refundable aid, to Vietnam on March 30.

According to the report, the Nha Trang-HCM City section of the new railway will be 369km long, or 46km shorter than the current route. At a standard speed of 182km per hour, it will take only two hours to travel from Nha Trang to Ho Chi Minh City. However, the construction will cost a considerable sum of up to US$7.8 billion.

According to RoK Councellor to Vietnam Yoo Yeon Chul, the report would be used as a panorama of the development and modernisation of the railway system. Railway is expected to become one of the main means of transport in Vietnam and help reduce the developmental gap among regions.