South Korea to offer Ukraine reconstruction projects worth $52B

According to Ukrinform, Yonhap reported this.

"Ukraine has requested the involvement of Korean companies in approximately 5,000 construction projects, estimated at $20 billion, through an intergovernmental cooperation channel in May," Choi Sang-mok, Economic Secretary to the President of South Korea, said.

In his words, the government will start 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 sites will be carried out with official development assistance funds.

The South Korean government also plans to support Ukraine by providing technical assistance to restore water infrastructure, complementing the humanitarian aid already provided after Russians blew up the Kakhovka hydroelectric dam.

Choi Sang-mok noted that the specialized support will be extended to private sector-led reconstruction projects, which are currently estimated at approx. USD 32 billion.

The projects cover a variety of sectors, including small modular reactor nuclear power plants, airport reconstruction, construction equipment, rail transport, and information technology.

"Even as the conflict continues and the reconstruction effort is in the early stages, we will prepare for our role in the reconstruction project as diligently as the Ukrainian government desires," he said.

As Ukrinform previously reported, Poland and South Korea signed an agreement on cooperation in rebuilding Ukraine.