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Olexander Kubrakov: Korean business will invest in Ukraine's recovery projects

15 Sep, 2023
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Olexander Kubrakov: Korean business will invest in Ukraine's recovery projects

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A delegation from the Republic of Korea has arrived in Kyiv for negotiations on deepening cooperation in the field of recovery. During the joint Forum for Cooperation in Reconstruction between Ukraine and Korea, they agreed to develop infrastructure recovery projects with the involvement of Korean high-tech expertise and business investments.

"The Ministry of Community Development, Territories, and Infrastructure of Ukraine has been working systematically with Korean colleagues over the past year on the development of joint projects and attracting investments in recovery projects. Private capital and businesses are key participants in the recovery process. The latest Korean experience in technology and transportation is important to us. The Republic of Korea has become a true technological giant and is currently an expert leader in the field. We are grateful for our colleagues' willingness to share their expertise to implement the main idea of post-war recovery - Build Back Better - to rebuild better than before," said Vice Prime Minister for the Recovery of Ukraine and Minister of Community Development, Territories, and Infrastructure of Ukraine, Olexander Kubrakov.

The Korean delegation was led by the Minister of Land, Infrastructure, and Transport of the Republic of Korea, Won Hi-Ryon. Among the business representatives were leaders from Samsung, Hyundai, Hanwha Solutions, Yooshin, and Posco. The Ukrainian side at the forum was represented by the heads of the State Agency for Infrastructure and Development of Ukraine, as well as the Kyiv and Mykolaiv Regional Military Administrations.

During the forum, the parties discussed the launch of joint projects. One of the largest projects is the development of a new General Plan and transport model for Kyiv Oblast. A separate project will focus on drainage and wastewater treatment for the city of Bucha.

Ukraine and Korea also signed memorandums of cooperation in various areas.

The State Agency for Infrastructure and Development of Ukraine and the Korean Infrastructure and Development Corporation for Cities (KIND) have agreed on the intention of the Korean Infrastructure and Development Corporation for Cities to cooperate internationally.

Mykolaiv Regional Military Administration - HD Hyundai Construction Equipment, under which Hyundai will provide construction equipment to Mykolaiv Regional Military Administration;

Oschadbank - Korean Infrastructure and Development Corporation for Cities (KIND), where the intention of the Korean Corporation for Overseas City Development to cooperate with Oschadbank of Ukraine is approved.

Another priority direction is the development of railway connections, including the expansion and development of the Intercity high-speed train network. The parties also discussed potential cooperation in the development of ports, airports, and waste management.

President of Ukraine Volodymyr Zelensky recently held a meeting with the Minister of Land, Infrastructure, and Transport of the Republic of Korea, Won Hi-Ryon. He called on Korean business representatives to actively engage in the Ukrainian market and participate in projects related to nuclear and renewable energy, machinery manufacturing, automotive industry, lithium mining, oil refining, green metallurgy, railway transportation, water resources, and local infrastructure development.

The Odessa Journal

The Odessa Journal

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