South Korea to support domestic companies in reconstruction of Ukraine

South Korea to support domestic companies in reconstruction of Ukraine

The government of South Korea pledges support to state-owned and private companies in the restoration of the war-ravaged transport and energy infrastructure in Ukraine.

This is reported by Korea Times with reference to South Korean ministries, Ukrinform saw.

Hyundai Engineering & Construction has already signed a Memorandum of Understanding with Boryspil International Airport regarding reconstruction and expansion projects. Samsung C&T inked a deal with Lviv authorities on the development of a Smart City project.

Other companies mentioned in the context of Ukraine’s reconstruction include Kolon Global, HD Hyundai XiteSolution, and Hyundai Rotem.

Read also: South Korea to participate in working group for Ukraine Peace Formula

The South Korean government plans to send a delegation from the Ministry of Infrastructure to Kyiv in August, and a delegation from the Ministry of Trade, Industry and Energy in October. It is expected that the first delegation will include representatives of companies specializing in the construction of roads, bridges, and public facilities. Energy experts will form the second delegation.

In addition to the reconstruction of transport and energy infrastructure, estimated at $140 billion, more than $400 billion is required to rebuild housing and telecommunications systems, as well as for mine clearance projects, the report reads.

Among the various infrastructure sectors, the largest allocations will go to the reconstruction of the destroyed housing stock ($50.4 billion), followed by transport ($35.7 billion), trade and industry ($10.9 billion), and energy ($10.6 billion).

It is noted that Korean construction teams will be able to help Ukraine rebuild highways and other motorways ($26.4 billion), as well as power supply facilities for railways and stations ($23.3 billion).

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