A Brazilian daily says South Korea is, thus far, the best prepared to take part in a bid for a high-speed railway construction project in Brazil.

The Folha de São Paulo daily said Thursday that Brazil’s President-elect Dilma Rousseff met with South Korean Minister of Land, Transport and Maritime Affairs Chung Jong-hwan during the G20 summit in Seoul last week.
The report noted that during a news conference that followed, the officials agreed that South Korea was the only country that is fully prepared to take part in the bidding.

Brazil plans to spend 19 billion dollars to build a 500-kilometer high-speed railway that would link Rio de Janeiro, São Paulo and Campinas.

South Korea will compete with China, Japan, Germany and France for the rights to the railway project.