South Korean firms to support reconstruction of Ukraine

South Korean President Yoon Suk Yeol had earlier pledged US $300mn in short-term aid for Ukraine in 2024

A South Korean delegation recently visited Ukraine to discuss six reconstruction projects in the country. The delegation included 18 state-run organisations and private businesses, such as Korea Land & Housing Corporation, Hyundai E&C, and Naver, and was led by South Korean Minister of Land, Infrastructure, and Transport, Won Hee-ryong.

During the visit, they met with Ukraine President Volodymyr Zelensky and participated in a reconstruction cooperation forum.

The projects they agreed to work on include smart transportation in Kyiv, a smart city in Uman, modernisation of the Boryspil International Airport, and the construction of a sewage system in Bucha. Hyundai signed a partnership with the city government of Mykolaiv to provide construction equipment, said a report by Korea JoongAng Daily.

Earlier, South Korean President Yoon Suk Yeol pledged US $300mn in short-term aid for Ukraine next year and another $2bn in mid- to long-term support for the country’s war recovery at the G20 summit in New Dehli.

The Korean government said that it plans to provide short-term aid to Ukraine in 2024 in the form of grants, humanitarian aid, and support through international financial institutions. The $2bn support package will be in the form of a long-term, low-interest concessional loan through the Economic Development Cooperation Fund from 2025, the report concluded.


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