The Korea Railroad Corporation(Korail) said Friday that it signed an agreement with two firms on joint research to develop a domestic two-story high-speed train.

A double-decker train seats much more people than a regular train as it can accommodate as many as 14-hundred passengers. This means a single train has the same transport capacity as five domestic route airplanes or 50 intercity buses.

Double-decker trains with a speed of 300 kilometers per hour are taking root especially in Europe where rail demand is high, thanks to their increased passenger capacity and energy efficiency. France's TGV-Duplex is currently holding a monopoly in European markets. 

Hyundai Rotem Company and the Korea Railroad Research Institute will also take part in the development of a Korean double-decker train.