Governor Kim Taeheum:
"Emergency Response Task Force Established...
Plans to Secure Industrial Competitiveness Will Be Prepared"
Governor Kim Taeheum of Chungnam Province, CEOs, and presenters attending the forum held to explore strategies for entering Ukraine reconstruction projects
Chungnam Province has taken proactive steps to explore strategies for local companies to enter reconstruction projects in preparation for a possible end to the Russia-Ukraine war.
On April 23, Chungnam Province and the Korea International Trade Association held the "Forum on Strategies for Entering Ukraine Reconstruction Projects in Preparation for the End of the Russia-Ukraine War" at the Ramada Encore by Wyndham Hotel in Cheonan. The event was attended by Governor Kim Taeheum, executives and employees of export companies from the province, and other participants.
The forum served as an opportunity to share local trends and discuss the potential for companies in the province to participate in reconstruction projects. The program included keynote presentations, panel discussions, and a Q&A session.
Lee Chulwon, Senior Research Fellow at the Korea Institute for International Economic Policy, delivered a presentation on "Trends and Participation Potential in Ukraine Reconstruction Projects." He stated, "Ukraine's reconstruction is important from a humanitarian perspective, but it also presents a promising opportunity for participating companies in terms of profitability." He added, "Promoting cooperation between Korea and Ukraine to enhance the values of freedom, peace, and democracy will be effective in encouraging more Korean companies to participate."
Attorney Cho Eunjin from Yulchon LLC presented on "Efficient Strategies for Entering Ukraine Reconstruction Projects," outlining various methods for participation. These included participation in international tenders, leveraging projects by international financial institutions, engaging in public-private partnership (PPP) projects, bidding on construction projects through partnerships and joint ventures, and pursuing independent participation.
Attorney Cho advised, "It may be challenging for Korean companies to secure contracts on their own, so I recommend forming partnerships with local companies that have a strong understanding of local regulations and relevant experience."
Kang Kiwoong, Vice President of iToxy, presented on "Strategies and Current Status for Entering Ukraine Reconstruction Projects." He noted, "The scale of Ukraine's reconstruction projects is estimated to reach up to 1,000 trillion won over the next ten years, so companies in the province must prepare thorough entry strategies." He emphasized, "It is important to focus on K-products with high local demand, such as cosmetics, combined heat and power generators, and pickup trucks, and to make full use of public sector networks that have stable retail distribution channels."
As a side event, lawyers from Yulchon LLC provided customized consulting on entering Ukraine reconstruction projects for companies that had registered in advance.
Governor Kim Taeheum stated, "With the US-China tariff war escalating into a chicken game, our companies must be enduring sleepless and difficult days." He continued, "Since the speed and effectiveness of government and local government support measures are crucial, the province has already established an emergency response task force and entered a crisis response system."
He added, "We will not stop at one-off measures, but will continue to supplement our efforts through the task force, while also preparing mid- to long-term plans to strengthen industrial competitiveness." He emphasized, "Just as the saying 'beyond the clouds, the sky is blue' suggests, Chungnam will work together with business leaders to overcome these dark times and welcome clear skies."
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