Ukraine and South Korea are preparing new large-scale initiatives in the areas of airport development, railway infrastructure, urban planning, and water supply systems. Following negotiations between Deputy Prime Minister for Restoration and Minister for Communities and Territories Development Oleksii Kuleba and Minister of Land, Infrastructure and Transport of the Republic of Korea Kim Yun-Duk, the parties reached a number of important agreements regarding future cooperation.
This is reported by Business • Media
Ukrainian-Korean Working Group and Investment Attraction
A key area of cooperation will be the establishment of a Ukrainian-Korean working group for reconstruction. This will allow leading Korean companies to participate in the implementation of infrastructure projects in Ukraine and ensure a swift transition from negotiations to practical solutions. Oleksii Kuleba emphasized that the total announced aid package from South Korea for Ukraine amounts to $2.3 billion.
“This will enable us to attract leading companies from Korea to work in Ukraine and transition more quickly from negotiations to practical solutions,” the minister noted, reminding that the total announced aid package from South Korea to Ukraine reaches $2.3 billion.
Railway Modernization and Procurement of High-Speed Electric Trains
During his visit to Seoul, Oleksii Kuleba held talks with Eximbank Korea board member Hwang Ki-yong and representatives of the Economic Development and Cooperation Fund of the Republic of Korea (EDCF) regarding the modernization of Ukraine’s railway network. The issue of financing the purchase of 20 high-speed electric trains of Korean manufacture was discussed. The implementation of this initiative will significantly increase passenger transport volumes, alleviate capacity shortages during peak periods, and modernize the rolling stock of “Ukrzaliznytsia.”