Cooperation with Korean companies will enhance the resilience of Ukrainian railways: Oleksii Kuleba
Deputy Prime Minister for Restoration — Minister for Communities and Territories Development of Ukraine Oleksii Kuleba held a meeting with a member of the board of Eximbank Korea, Mr. Kim Yong-hwan, and representatives of the Economic Development Cooperation Fund of the Republic of Korea (EDCF). The meeting took place in Seoul during a working visit of the Government team to the Republic of Korea.
The focus of the discussions was the development and modernization of the Ukrainian railway network. In particular, the talks covered financing the purchase of 20 high-speed electric trains of Korean production, which would significantly increase passenger transportation volumes, address seat shortages during peak periods, modernize the rolling stock of Ukrzaliznytsia, and make passenger transportation faster and more convenient. This is particularly critical given that the enemy is destroying Ukrzaliznytsia’s rolling stock, including a recent attack on an Intercity train.
"Ukrainian Railways today plays a unique role — providing mobility for millions of people, delivering humanitarian and other cargo, as well as medical and evacuation transportation. Cooperation with Korean partners paves the way for creating a modern and resilient transportation system. It is crucial for us that the procurement of new electric trains is conducted through a transparent and open tender among companies," emphasized the Deputy Prime Minister for Restoration.
During the working visit to the Republic of Korea, Oleksii Kuleba also met with manufacturers of passenger rolling stock. The companies were presented with Ukraine’s vision for the development of its railway system and the needs for modernizing its rolling stock.
"Together with our partners, we are laying the foundation for a transportation system that will ensure safety, reliability, and convenience of transportation even in the most challenging times," the Deputy Prime Minister underscored.
It is worth noting that Korea has already provided Ukraine with a framework for concessional financing of up to USD 2.1 billion for 2024–2029. This has become one of the largest financial support instruments for Ukraine from partners in Asia. The first tranche of USD 100 million has already helped maintain financial stability and ensure timely social payments amid the war.
Background information
On September 10, the Government of Ukraine approved a draft Letter to the Government of the Republic of Korea regarding the provision of financing for the implementation of the public investment project “Procurement of 20 high-speed electric trains of Korean production.” The signing of the Letter will facilitate the purchase of 20 high-speed electric trains of Korean production through a concessional loan from the Economic Development Cooperation Fund (EDCF) to meet the needs of JSC “Ukrzaliznytsia” for interregional and international passenger transportation.