As the possibility of an end to the war in Ukraine increases recently, domestic companies are taking the initiative to form a reconstruction consortium for post-war recovery projects in Ukraine.
Itoksy announced that it participated in the Ukraine Reconstruction Project Listed Companies Council (URA), which consists of about 10 domestic listed companies from various industries as founding members, and held a launch ceremony and signed an MOU with the Ukraine Chamber of Commerce and Industry (UCCI) on the 25th. It also held a meeting with the Ukrainian economic delegation visiting Korea.
Key figures attending the launch ceremony included Dmytro Ponomarenko, Ambassador of Ukraine to Korea; Valeriy Korol, Vice Chairman of UCCI; and Roman Hrehoryshyn, Chairman of the UCCI Korea Economic Cooperation Committee.
The Ukraine Reconstruction Project Listed Companies Council is led by Itoksy CEO Jeon Bong-gyu, who has a network in the CIS (Commonwealth of Independent States) including Ukraine, as the representative of businesspeople. Former Ambassador to Ukraine Lee Yang-gu and former Ambassador to Kazakhstan Baek Joo-hyun have been appointed as advisors. The council gathers listed companies engaged in reconstruction projects by sector to share information and local networks, and plans to join forces to participate in the $2.3 billion (approximately 3.37 trillion KRW) Ukraine reconstruction support project promised by the Korean government.
Itoksy recently secured an export delivery contract for KG Mobility’s Musso Grand pickup trucks in a bid by the Ukrainian National Police, marking the first achievement among domestic listed companies in the Ukraine reconstruction project. Participating companies include Hwacheon Machine Tool, a machine tool manufacturer; MGen Solution, specializing in information and communication infrastructure; Foodnamu, an F&B specialist; Jokwang Paint, a paint manufacturer; Jeonjin Construction Robot, specializing in construction machinery and firefighting special vehicles; and Paratech, in the firefighting sector.
The Ambassador of Ukraine to Korea said, “We hope that private cooperation between Ukraine and Korea will be active through the Ukraine Reconstruction Project Listed Companies Council.”
Roman Hrehoryshyn, Chairman of the Ukraine-Korea Economic Cooperation Committee at UCCI, stated, “UCCI has about 19,000 member companies nationwide, and over 150 local large corporations have requested collaboration with Korean listed companies on reconstruction projects through UCCI. The excellent technology of Korean companies combined with the infrastructure of local large corporations is essential to receive bidding score advantages and financial support in large-scale reconstruction projects.”
He added, “We plan to provide maximum support to ensure smooth formation of reconstruction consortiums and joint investments between Korean listed companies and local large corporations.”
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