The advantage of the controlled permanent magnet system for magnetic levitation is the considerable improvement in levitation force to weight ratio and the reduced rating of the on-board power supply. A combined support and guidance technique with selfstable guide behaviour reduce the expense of control and power electronics. An important feature of this system is the simplified mechanical construction of track and the vehicle does not embrace the guide way. Therefore surface mounted as well as elevated tracks are possible. The magnet was designed to provide a lift force of 750kg for a 3 ton prototype vehicle with 4 magnets by KERI and built by Dae-Bo Magnetic Co., LTD. The paper also describes the assembling technology for permanent magnets, the experimental setup and test results for lift force, guidance force and flux distribution.