Recovery of Ukraine: South Korea considers investing in green metallurgy

According to Ukrinform, the Ministry of Economy of Ukraine reported that future cooperation in both private and public sectors was discussed during a meeting between First Deputy Minister of Economy Oleksii Sobolev and Posco International Ukraine's management. Key areas of collaboration include green metallurgy and the development of modern energy infrastructure.

Representatives of Posco International highlighted their prior experience with projects in Ukraine, especially in the agricultural and energy sectors. They are now seeking opportunities to play a more active role in the country's recovery.

Green metallurgy has been identified as a priority area for development. With over two decades of expertise in this field, Posco International is considering investments in Ukraine's metallurgical sector, along with providing technological and advisory support to Ukrainian steel businesses.

"Last year, we signed a framework intergovernmental agreement with the Republic of Korea, under which Ukraine's economy will receive $2.1 billion in soft loans from the Economic Development Cooperation Fund (EDCF) of the Republic of Korea," said First Deputy Minister of Economy of Ukraine Oleksi Sobolev. "We are very interested in using these funds for recovery projects as much as possible in the near future," he added.

Sobolev explained that, under current arrangements, the funds are limited to public initiatives within the Single Project Portfolio. However, the Ministry of Economy aims to broaden collaboration with the Korean government to attract concessional loans from the Fund for private-sector projects as well.

The parties also agreed to continue consultations between the Ministry of Economy and Korean businesses regarding the practical implementation of the green metallurgy project in Ukraine. Upcoming steps include conducting a feasibility study and engaging in discussions with Ukrainian companies to advance the project.