[Asia Economy Reporter Oh Gyumin] Posco International's grain terminal, the only domestic company's investment asset in Ukraine, is maintaining its overseas food business through partial operation.
The volume of cargo handled by the Ukrainian terminal corporation last year was 310,000 tons, a decrease of more than half compared to the previous year (760,000 tons). The terminal operation was temporarily suspended due to port blockades immediately after the war. However, at the request of customers concerned about supply chain disruption, exports of corn, rye, barley, and other grains have been carried out to Europe, Africa, and other regions via land transportation since May last year. The total inventory remaining at the terminal is 16,000 tons, with plans to complete shipments by March.
Although fighting continues in southeastern Ukraine, including Kherson near the terminal, the grain terminal located in Mykolaiv Oblast has not suffered any damage so far. According to the Ministry of Foreign Affairs guidelines, resident staff are working remotely from Poland. The terminal is operated mainly by 30 to 40 essential local personnel. Employees prioritize safety, shipping grains only during the day, and evacuating to safe locations within the terminal during air raid alerts.
The reason Posco International operates the terminal even during the war is to respond to customers' shipment requests for stored grains, to fulfill responsibilities as an employer of Ukrainian staff whose daily lives have been disrupted, and as a member of the agricultural community in Mykolaiv Oblast. Additionally, there is a sense of mission that as Korea's first overseas grain terminal operator, the company can contribute to national food security during future global grain crises, and that it can promptly expand the local agricultural value chain after the war ends.
Furthermore, leveraging its advantage as the only asset investment company in Ukraine, the company plans to actively participate not only in agriculture but also in national reconstruction projects.
(Center) Pavel Linnik Mykolayiv, Head of Grain Terminal Operations, is taking photos with employees on site. [Photo by POSCO International]
Pavel Linik, Head of Operations responsible for the Mykolaiv grain terminal site, said, "Farmers returning from evacuation continue to sow and harvest grains despite the war, maintaining hope," and added, "We are grateful to the company operating the terminal to support employees and sustain local agriculture even during the war."
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