Oleksandr Kubrakov: Korean Business to Invest in Ukraine's Recovery Projects
A delegation from the Republic of Korea has arrived in Kyiv to hold talks on deepening cooperation in the field of recovery. During the joint Reconstruction Cooperation Forum between Ukraine and Korea, they agreed to develop infrastructure recovery projects with the involvement of Korean expertise in high technology and Korean business investments.
«Ministry for Communities, Territories and Infrastructure Development of Ukraine has been systematically cooperating with Korean colleagues over the past year on developing joint projects and attracting investments in recovery projects. Private capital and businesses are key participants in recovery process. For us, the modern Korean experience in technology and transportation is crucial. South Korea has become a true technological giant and is currently an expert leader in the field. We appreciate our colleagues’ willingness to share their experience in realizing the main idea of post-war reconstruction – Build Back Better – to rebuild better than it was», – said Oleksandr Kubrakov, Deputy Prime Minister for Restoration of Ukraine - Minister for Communities, Territories and Infrastructure Development of Ukraine.
The Korean delegation was led by Minister of Land, Infrastructure and Transport of the Republic of Korea, Won Hee-ryong, and included representatives from Samsung, Hyundai, Hanwha Solutions, Yooshin, and Posco. The Ukrainian side at the forum was represented by the heads of the Agency for Recovery and Development of Infrastructure Projects and the military leadership of the Kyiv and Mykolaiv regions.
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 transportation model for the Kyiv region. A separate project will focus on wastewater drainage and treatment for the city of Bucha.
Ukraine and Korea also signed memorandums of cooperation in various areas:
State Agency for the Reconstruction and Development of Infrastructure – Korea Overseas Infrastructure and Urban Development Corporation (KIND) in which sides expressed their intention to cooperate;
Mykolaiv Regional Military Administration – HD Hyundai Construction Equipment, which secured that Hyundai will provide construction equipment to Mykolaiv Region;
Oschadbank – Korea Overseas Infrastructure and Urban Development Corporation (KIND) in which sides expressed their intention to cooperate in overseas urban development projects.
Another priority area 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 developing ports, airports, waste management, and other areas.