The construction of a thermal power plant (TPP) in Odessa, the resumption of operations at a grain terminal in the Mykolaiv region, the construction of a railway depot, and other promising projects within the framework of investment cooperation between Ukraine and the Republic of Korea were discussed during a meeting between Ukraine’s Minister of Economy, Environment, and Agriculture, Oleksii Soboliev, and representatives of POSCO International Corporation.
The meeting was also attended by Deputy Ministers Andrii Teliupa, Taras Vysotskyi, and Pavlo Kartashov, as well as Marina Khlystun, Director of the Department for Investment Attraction and Cooperation with International Organizations. On the Korean side, participants included the General Director of POSCO International Ukraine, Vice President of POSCO International Corporation Kim Yong Hyun, and Sales Director of POSCO International Ukraine Ahn Suhyeon.
The Korean delegation highlighted the cooperation between the Ukrainian Government and the Economic Development Cooperation Fund (EDCF). Through the EDCF program and KEXIM Bank, Korean companies have the opportunity to participate in Ukraine’s transformative recovery, including POSCO, which has extensive experience in implementing large-scale infrastructure projects abroad.
Among the company’s priorities is the construction of a thermal power plant in Odessa powered by RDF fuel (refuse-derived fuel produced from waste). Consultations have already been held with the city administration on environmental and energy efficiency issues. The project has been preliminarily included in the list of priority infrastructure initiatives.
“The project in Odessa is very important for our ministry because it combines investment potential with an environmental component. This initiative is aimed at protecting the environment and introducing modern technologies to reduce emissions. In the future, this practice can be extended to other regions of Ukraine. The Recovery Agency has submitted this project to the Unified State Project Portfolio, and it is expected to undergo expert evaluation and subsequent approval by the Strategic Investment Council,” said Minister Oleksii Soboliev.
Regarding the joint project with Ukrainian Railways (Ukrzaliznytsia) — the construction of a railway depot — various mechanisms of involvement are being considered, including public procurement tools and public-private partnerships. The former approach offers Korean companies greater opportunities to participate in Ukraine’s recovery, while the latter facilitates localization and involvement of Ukrainian manufacturers within the framework of the “Made in Ukraine” policy, aimed at stimulating domestic industrial development.
Additionally, participants discussed the importance of launching operations at the grain terminal in the Mykolaiv region. Developing infrastructure for grain and vegetable storage facilities (warehouses and refrigerated chambers) is a key priority for Ukraine, one of the world’s largest exporters of grain and agricultural products. The Ukrainian side emphasized the need to develop mechanisms to protect businesses during wartime and reduce the cost of maritime insurance. At the same time, the Government is working on a support program for restoring trade routes in the Mykolaiv region.
