• 16 July 2023

Reconstruction of Ukraine: South Korea will offer projects worth $52 billion

South Korea will offer comprehensive support from both the public and private sectors for Ukraine's $52 billion reconstruction projects. This is reported by Yonhap.
"In May, Ukraine submitted a request through the intergovernmental cooperation channel for the participation of South Korean companies in approximately 5,000 construction projects worth $20 billion," said Choi Sang-mok, economic secretary to the South Korean president.
He said the government would begin assessing construction sites for modular homes to quickly provide housing for people, as well as schools and hospitals.
He added that the inspection of these places will be carried out with the help of official development assistance.
The government of South Korea also plans to support Ukraine by providing technical assistance for the restoration of water infrastructure, supplementing the humanitarian assistance already provided after the destroyed Kakhovskaya dam.
Choi said specialized support would be extended to private-sector-led reconstruction projects, which are currently valued at about $32 billion.
The projects cover various sectors, including nuclear power plants with small modular reactors, airport reconstruction, construction machinery, rail transport and information technology.
"Even if the conflict continues and reconstruction is in the early stages, we will prepare for our role in the reconstruction projects as diligently as the Ukrainian government wishes," Choi said.