"Exploring Diversification of Ukraine Entry and Orders"... Overseas Construction Strategy Major Shift Forum

The Overseas Construction Association held a policy forum titled "Policy Forum for a Major Shift in Overseas Construction Expansion Strategy" on the 30th at the National Assembly Members' Office Building, together with Kim Jeong-jae, a member of the People Power Party, and Choi In-ho, a member of the Democratic Party of Korea.

Participants are taking a commemorative photo at the 'Policy Forum for a Major Shift in Overseas Construction Expansion Strategies' held on the 30th at the National Assembly Members' Office Building. / Photo by Overseas Construction Association

The forum was organized to explore ways to revitalize overseas construction and strengthen the capabilities of Korean companies through structural improvements, aiming to achieve the policy goal of "annual orders worth 50 billion USD and entering the world's top four powers." In their opening remarks, Kim, the People Power Party's floor leader, and Choi, the Democratic Party's floor leader, expressed hope that comprehensive overseas construction support policies, including One Team Korea, would come together.

Park Seon-ho, president of the Overseas Construction Association, stated, "This forum, which seeks strategies to respond to the rapidly changing market environment such as expanding investment and development-type projects, is expected to serve as a catalyst for consolidating overseas construction capabilities."

In the keynote presentations, Choi Jeong-hoon, deputy director of the Export-Import Bank of Korea, spoke about "Financial Support Measures for Entering Ukraine Reconstruction Projects." No Jae-hak, executive director at Hyundai Engineering & Construction, mentioned "Diversification Strategies for Our Companies' Overseas Construction Orders." Following this, Jeong Chang-gu, head of the Association's Policy Support Center, presented "Response Strategies and Support Measures According to Changes in Overseas Construction Ordering Patterns."

A panel discussion was also held, chaired by Han Man-hee, professor emeritus at the University of Seoul. Participants included Choi Se-hyung, director of the Overseas Construction Policy Division at the Ministry of Land, Infrastructure and Transport; Park Hyun-geun, head of the One-Stop Order Support Team; lawyer Lim Byung-woo from Kim & Chang; Jin Jae-young, Northeast Asia representative of MIGA; and Kim Yong-gu, president of Dohwa Engineering.

The government viewed official development assistance (ODA), such as the Economic Development Cooperation Fund (EDCF), as the most important factor for Ukraine reconstruction projects. Director Choi said, "Compared to earlier this year, the atmosphere regarding Ukraine has changed drastically, to the point it can be described as a complete transformation. Through network building, Ukraine now recognizes us as an important partner."

He added, "It is now time to produce concrete results. In the initial stages, it inevitably revolves around 'EDCF first,' but we will discuss project priorities with Ukraine."

Director Choi also stated, "To expand overseas construction orders, we need to enter advanced markets such as the U.S. and Europe. It is necessary to actively engage in the increasing investment and development projects in developed countries."