In response to the growing domestic request and the change of the overseas environment, Hyundai Maritime Research Institute has recently established a three-stage development plan for the high speed marine transportation system. As the first stage plan, the long-range high-speed foil catamaran passenger ship has been designed and constructed for the open-sea serivice of 800 nautical miles round trip with top speed above 40 knots. Extensive theoretical analyses and model tests were systematically carried omit along the course of design for the system optimization and the verification. In this paper, the brief summary of the design and the construction works shall be presented.