Ukraine is actively expanding its economic cooperation with South Korea: currently, the launch of 13 joint projects is planned, six of which are already in the implementation stage. This was announced by the Minister for Communities and Territories Development, Oleksii Kuleba, after negotiations with the Minister of Economy and Finance of South Korea, Koo Yun-cheol.
This is reported by Business • Media
Main Areas of Cooperation
Among the key projects already being implemented are the establishment of a Railway Traffic Management Center, modernization and support for Ukrainian aviation, and the creation of a training center for heavy construction equipment in Zhytomyr. These initiatives are aimed at developing transportation infrastructure, logistics, aviation, and forming a modern training system for the reconstruction of the country.
“These projects allow us to develop transport, aviation, and logistics, and they create a modern training system that will work towards the country’s reconstruction,” the Deputy Prime Minister reported.
Preferential Financing and Infrastructure Reconstruction
Ukraine has officially approached the Korean side with a request for preferential financing for the purchase of 20 high-speed electric trains manufactured in South Korea. According to Kuleba, this is the largest economic project between the countries, which is set to become an important stage in the modernization of the railway sector. The implementation of this project will take place through an open and transparent tender among leading Korean manufacturers.
In addition, the parties discussed mechanisms that would facilitate the provision of heavy machinery to Ukrainian communities for infrastructure recovery — excavators, tractors, cranes, and other necessary equipment. Special attention was given to the official development assistance provided by South Korea to support Ukraine.