Korea’s cutting-edge transportation IT infrastructure will be introduced in Colombia as LG CNS, Korea’s tech firm, won the $300 million project to set up an intelligent transport system in Bogota, the company said on Tuesday.

Bogota, Colombia’s capital, is one of the three biggest cities in Central and South America. Under the deal, LG CNS will establish systems for bus management, as well as issuance and maintenance of prepaid bus cards by December 2012.

LG CNS will start by constructing the automatic fare collection and bus management systems for 12,000 city’s buses and 40 stations on BRT in Bogota in the second half of this year. After completion, all the buses and rapid transit stations in Bogota will be integrated into a single transfer system by 2015.

The Korean company said it will operate the systems for 15 years before transferring it to the Colombian city.

LG CNS said it has had a fierce competition with global companies from Spain and Brazil for three months since May before finally receiving the order.

By Chung Hee-young, Intern reporter (jennijung88@gmail.com)