Ukraine expects that Korean companies known for their experience in implementing infrastructure projects will actively contribute to the restoration of the country. This was stated by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, in her speech at the Korea-Ukraine Business Forum in Seoul.

The event was organised by the Korea International Trade Association as part of the Ukrainian delegation’s visit to the Republic of Korea. The forum was attended by representatives of the governments of the countries and about 150 Korean companies, including KEPCO, Daewoo E&C, Doosan Enervity, Ssangyong E&C, Posco International, Hyundai Engineering and Hyundai Rotem, among others.

“Korean companies are known for their experience in implementing infrastructure projects. We urge them to join the recovery of Ukraine today. We want to build the country together with our friends and partners and count on Korea’s significant contribution to Ukraine’s reconstruction,” said Yuliia Svyrydenko.

The First Deputy Prime Minister noted that Ukraine was grateful to the Republic of Korea for participating in the Lugano and Berlin recovery conferences. She also invited the Korean side to the conference on Ukraine’s recovery to be held in London on 21-22 July 2023.

In his speech, Deputy Head of the Presidential Office Rostyslav Shurma outlined promising areas for Korean companies to participate in the recovery. According to him, Ukraine expects Korean business to participate in energy sector projects, such as the construction of two new nuclear power plants and hydrogen industry infrastructure.

“There will be many opportunities in various areas, such as restoration and modernisation of the transport network, production of electric vehicles and hydrogen transport,” said Rostyslav Shurma.

Jeong Marn-ki, Executive Vice Chairman of the Korea International Trade Association, in turn, stressed that the 70,000 member companies of the KITA would not hesitate to play the role that the governments and people of both countries want in the process of reviving economic cooperation between the two countries. According to him, Korean companies participated in reconstruction projects after the Gulf War, the Iraq War and the Afghan civil war. In particular, they were involved in projects to restore energy infrastructure, build factories and cities.

According to Jeong Marn-ki, Korean companies can make a significant contribution to the post-war recovery of Ukraine – infrastructure construction, restoration and modernisation of the transport network, smart city construction, and development of hydrogen industry infrastructure, using their accumulated experience, speed, reliability, and technology.

He also stressed that intensifying relations between the governments of the countries and Ukrainian and Korean businesses would help strengthen economic cooperation.

The goal of rebuilding Ukraine is not to restore the country to its pre-war level, but to build a new economy, taking into account the country’s geopolitical advantages, high-quality new modern infrastructure, etc. In fact, this is new construction. This was emphasised in his speech by Lee Yang-gu, former Ambassador of Korea to Ukraine, Professor at Gyeongsang National University. According to him, Korea can apply its successful experience in creating powerful modern industrial complexes, technology parks, etc. in Ukraine.