Hyperloop Transportation Technologies (HTT) has partnered with the South Korean government and local universities to build the world's first full-scale Hyperloop system. "The agreement was actually signed back in January but only revealed this week, and sees HTT team up with the South Korean government's department of technological innovation and infrastructure, along with the Korea Institute of Civil Engineering and Building (KICT) and Hanyang University," reports New Atlas. From the report: It involves the construction of a full-scale testbed, licensing of HTT's vacuum tube, levitation, propulsion and battery technologies along with the co-development of safety standards and regulations. The agreement is a multi-year partnership intended to build a new transportation system for South Korea, one which will be known as the HyperTube Express and carry passengers between Seoul and Busan in under 20 minutes, compared to the current three-hour drive. HTT may be setting out to build the world's first Hyperloop but it is no guarantee, with fellow startups Arrivo and Hyperloop One also moving full-steam ahead with their plans. The latter in particular seems to be making solid progress, recently showing off a full-scale test track in Nevada and forming agreements with Russia, Finland and Dubai to explore the feasibility of a Hyperloop in those countries. It's too early to tell who will be first out of the gate, but the competition is certainly heating up.