South Korea plans to map out new railway projects to create jobs and expand its presence in the global railway market in the first half of this year, the transport ministry said Sunday.

The Ministry of Land, Infrastructure and Transport said the new railway projects will include the localization of Korea Train Express (KTX)-II, or "KTX-Sancheon" that can run at a speed of up to 300 kilometers per hour as well as exports of urban railways.

The projects will be focused on job creation, the improvement of railway competition and budget reduction, a ministry spokesman said, adding it plans to announce the details of the projects by the end of June.

"Our railway technologies reach the level to enter the global market," the spokesman said, noting that the projects will help the railway industry grow the country's next-generation growth industry following the car industry.

The global railway industry is estimated at an annual of 200 trillion won ($176.8 billion), less than that of the auto market worth up to 1,500 trillion won and that of the plane industry worth 500 trillion won. (Yonhap News)