[Asia Economy Reporter Jang Hyowon] Korea Technology, a Kosdaq-listed company pursuing a merger with its subsidiary Daewoo Shipbuilding & Marine Engineering Construction (Kim Yongbin), announced on the 12th that it held an official meeting with the Ukrainian parliamentary delegation and the Ambassador of Ukraine to Korea, arranged by the Korea International Trade Association, at the Korea International Trade Association's main conference room in Samseong-dong. The meeting discussed participation plans for the 'Ukraine Reconstruction Project' along with representatives of related mid-sized companies.
(From left) Kim Hyun-chul, Head of Korea International Trade Association, Shin Yong-gu, CEO of Korea Technology, Lee Yong-heung, Chairman of World One High Tech, Kim Yong-bin, Chairman of Daewoo Shipbuilding & Marine Engineering Construction, Lee Kwan-seop, Executive Vice Chairman of Korea International Trade Association, Andriy Nikolayenko, Member of the Ukrainian Parliament, Serhiy Taruta, Member of the Ukrainian Parliament, Dmytro Ponomarenko from the Ukrainian Embassy, Park Ho-san, Vice President of The HQ, and Lee Chang-hyun, CEO of Hyundai Feed, are taking a commemorative photo on the 12th at the Korea International Trade Association discussing post-war reconstruction of Ukraine. / Photo by Korea Technology
On this day, the Korean side was represented by Kim Yongbin, Chairman of mid-sized construction company Daewoo Shipbuilding & Marine Engineering Construction; Shin Yonggu, CEO of Korea Technology; Lee Changhyun, CEO of Hyundai Feed; Lee Yongheung, Chairman of World One High Tech; Park Hosan, Vice President of The HQ; Lee Gwansub, Executive Vice Chairman of the Korea International Trade Association; and Kim Hyuncheol, Head of Department.
The Ukrainian side included Serhiy Taruta, a Ukrainian businessman listed in Forbes Global 500 and a member of parliament; Andriy Nikolayenko, a pro-Korean parliamentarian; and Dmytro Ponomarenko, Ambassador of Ukraine to Korea.
Daewoo Shipbuilding & Marine Engineering Construction and Korea Technology, as representatives of mid-sized companies supporting Ukraine, pledged to provide practical support to Ukraine, which is currently facing difficulties due to the war, and to actively cooperate in post-war reconstruction.
Specifically, they announced plans to unite Korean mid-sized companies and establish the Ukraine Cooperation Foundation, a corporation, to work closely with the Ukrainian government and actively contribute to Ukraine’s post-war reconstruction.
At the same time, the Ukrainian parliamentary delegation proposed a visit by the Korean side to Ukraine to discuss post-war reconstruction with Ukrainian companies, along with specific directions such as rebuilding the war-damaged city of Mariupol similar to Incheon Songdo.
The Ukrainian side stated, “Most of Mariupol’s social infrastructure has been destroyed,” and added, “We are planning to newly expand the port, steel companies, and other facilities, and we believe many Korean mid-sized companies will play a central role in these plans.”
According to the company, Kim Yongbin, Chairman of Daewoo Shipbuilding & Marine Engineering Construction, is well acquainted with the circumstances of countries that gained independence from the Russian Federation, having operated the Uzbek government and state-owned refrigerated railway company as well as Uzbekistan’s largest strawberry farm in Uzbekistan for 15 years. He said, “This experience will be a great help for the Ukraine reconstruction.”
Chairman Kim said, “I have directly experienced the development of developing countries by building vocational training schools in Vietnam, Zambia, and Yemen, which was in civil war, through previous EDCF projects,” and added, “We will unite interested mid-sized companies and fully support the Ukraine reconstruction.”
Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction has accumulated capabilities in major domestic and overseas SOC (social overhead capital) construction projects, including architectural and civil engineering works, the construction of a dedicated large research vessel pier for the Korea Institute of Ocean Science & Technology in Geoje, project management for the Oman dry dock construction, submarine and terrestrial cable projects, and power supply facility duct construction.
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