Test Results and Status of development of the urban transit maglev system(UTM-O1) are reported. Maglev Project Team in KIMM, in cooperation with Hyundai Precision Company and the Korea Electrotechnology Research Institute(KERI), has successfully finished the second stage development project (1995. 5-1998. 8) and demonstrated a prototype two vehicle consisted urban maglev train operating in the speed range of 50km/h. In this paper, we report various test results of the UTM-01 system, present status of quo and future prospect, and what have been done so far to improve the performance of the maglev system overall.