Ukraine Deputy Prime Minister "Hope for Korean Companies to Participate in Ukraine Reconstruction Projects"

KCCI to Host 'Korea-Ukraine Future Cooperation Meeting' on 16th with Ukraine Deputy Prime Minister Invitation

The Korea Chamber of Commerce and Industry (KCCI) held the "Korea-Ukraine Future Cooperation Meeting" on the 16th at the KCCI Chamber Lounge in collaboration with the Embassy of Ukraine in Korea.

KCCI stated that it organized this event to discuss ways for Korean companies to participate in post-war reconstruction projects in Ukraine by inviting Yulia Svyrydenko, Ukraine's First Deputy Prime Minister and Minister of Economy, who is visiting Korea.

Seoul Jung-gu Korea Chamber of Commerce and Industry. / Photo by Jinhyung Kang aymsdream@

Recently, Ukraine's reconstruction project has been called the "Second Marshall Plan," focusing not merely on restoring infrastructure but on building infrastructure that can drive Ukraine's future development. To this end, governments of various countries, as well as the International Monetary Fund (IMF), European Investment Bank (EIB), and European Bank for Reconstruction and Development (EBRD), are presenting projects in the form of loans and investments, accelerating the process.

At the event, Ukrainian officials including First Deputy Prime Minister Yulia Svyrydenko, Deputy Chief of the Presidential Office Rostyslav Shurma, and Deputy Minister of Economy Oleksandr Hriban attended. On the Korean side, about ten businesspeople from KCCI, Hyundai Engineering & Construction, Lotte Engineering & Construction, POSCO International, Hyundai Engineering, Doosan Management Research Institute, and Korea Aerospace Industries (KAI) participated.

Woo Tae-hee, Executive Vice Chairman of KCCI, said in his greeting, "The Korean people empathize with the suffering of the Ukrainian people caused by the war," adding, "After the Korean War, Korea achieved the world's most successful post-war reconstruction known as the 'Miracle on the Han River.' We look forward to Korean companies playing a significant role in Ukraine's post-war reconstruction process."

Yulia Svyrydenko, First Deputy Prime Minister, expressed in her welcoming remarks, "We appreciate the friendship and trust Korea has shown toward Ukraine," and evaluated, "Despite the COVID-19 pandemic and the war, Korea and Ukraine have maintained a trade volume exceeding 800 million dollars over the past three years, successfully continuing their cooperative relationship."

She further stated, "Ukraine faces several challenges such as infrastructure reconstruction and energy transition," and added, "Ukraine is a country with high potential in eco-friendly energy and green hydrogen sectors and hopes to cooperate with Korean companies that possess excellent technological capabilities in various fields including eco-friendly metals and eco-friendly fertilizers." She also mentioned, "Ukraine operates nuclear power plants, making it a promising potential market in the field of special nuclear power equipment."

During the introduction of the Ukraine reconstruction project, Deputy Minister of Economy Oleksandr Hriban presented. Deputy Minister Hriban introduced the three main goals of Ukraine's reconstruction project as strengthening resilience, promoting recovery, and modernization, stating, "The scale of the reconstruction project is expected to reach up to 893.2 billion dollars (approximately 1,195 trillion won) and will be carried out over ten years."

He also explained, "Ukraine has suffered about 130 billion dollars (approximately 174 trillion won) worth of damage to social infrastructure due to the war. The most urgent task is the restoration of essential infrastructure including housing, with priority being given to hospitals, schools, and other infrastructure."

Lee Sung-woo, Head of the International Trade Division at KCCI, said, "Despite difficult domestic circumstances, we express our gratitude to the Ukrainian government delegation visiting Korea. We understand that the entire nation has a strong will for reconstruction, to the extent that the phrase 'Miracle on the Han River' was included in Ukrainian high school textbooks last year," adding, "KCCI will continue close communication with the Ukrainian government to ensure that our companies can make meaningful contributions to Ukraine's reconstruction projects."