Volodymyr Groysman discussed with CEOs of leading Korean companies the directions of enhancement of trade and economic cooperation between Ukraine and South Korea

Prime Minister of Ukraine Volodymyr Groysman held a meeting with leaders of major Korean companies. The parties discussed directions of bilateral trade and economic cooperation.

Opening the meeting, Prime Minister congratulated the participants on the National Foundation Day of South Korea.

Volodymyr Groysman stressed that trade and economic collaboration between Ukraine and South Korea has significant prospects for development. So, according to him, the existing volume of investment in Ukraine worth USD 161 million and bilateral trade volumes worth USD 714 million in 2015 does not correspond to the opportunities for cooperation.

In this context, the Prime Minister called on the representatives of South Korea to deepen trade and economic cooperation and enhance investment in the Ukrainian economy, in particular in the energy sector, industrial complex and mechanical engineering. Volodymyr Groysman also invited Korean businesses to take part in privatization of state-owned enterprises that is to be launched in Ukraine soon.

"The Government assumes commitment to support all investment projects and to do it with maximum efficiency in order to create comfortable environment and to make those who invest feel support here in Ukraine", said Volodymyr Groysman.

The Head of Government noted that there had taken place the Ukrainian-Korean business forum, which was a good signal of the potential of the two countries in development of bilateral cooperation.

Today there will take place the third meeting of the intergovernmental Ukrainian-Korean Commission on trade and economic cooperation, which will enable to effectively discuss the progress and to identify urgent tasks on the agenda, informed the Prime Minister.

The issue of establishing a favorable investment and business climate is among the topmost priorities for the Government, he said. So, this week there will be held a presentation of the Investment Support Office supervised by the Prime Minister, he announced.

Moreover, the Government is also engaged in elaborating changes to tax laws, as well as making efforts to root out corruption. Also, a judicial reform has been launched in the country, added Volodymyr Groysman.

In turn, the CEOs of major Korean companies evaluated the Government’s endeavors to improve business environment in Ukraine and pledged the support of South Korea for Ukraine in these aspirations.

Volodymyr Groysman emphasized it is not just investment that appears of great significance for the country, but making it efficient, and added it is a strategic objective.