The market taxonomy approach may lead to the most effective strategy to promote the export of Korean Railway Systems. By prioritizing opportunities in the global marketplace and subsequently identifying market segments, this approach will reveal the most effective market strategies for Korean rail exporters. This study suggests the market potential index. In addition, it also introduces how market segmentation should be done for the global rail supply market. Applying the market taxonomy to derive strategic implications, this study portrays several export projects currently being undertaken by the Korean rail industry.