The acceptance test of KTX has been performed in Korea. During the test, lateral vibration of carbody over the accepted value called sway was found. Many activities have been taken to find the cause of the vibration and the counter-measure. KTX has 20 car trainset formation whose trailer cars are linked by articulate bogies. So this study is performed to see the effects of long trainset formation on vehicle dynamics and the train stability by 16 car vehicle model. Firstly the reliable vehicle model which shows well the tendencies appeared in the tests on the high speed test line is required to find the cause of lateral vibration and the countermeasure. Vehicle model was made for the analysis with VAMPIRE. The analysis results show that secondary air spring lateral stiffness is the most significant parameter to cause carbody lateral vibration. Mode analysis results show that the least damped mode shape is similar to the vibration pattern shown in the tests that the amplitude of the motion increases along the train set and decreases in the tail part. The lateral vibration was "appeared at the speed range between 100km/h and 200km/h and disappeared at the low speed and the high speed.