Korea to help reconstruction in Ukraine

Land Minister Won Hee-ryong, left, poses for a photo with Ukrainian Infrastructure Development Deputy Minister Oleksandra Azarkhina in Warsaw on Tuesday. [YONHAP]

 
Korean companies will participate in reconstruction projects in war-ravaged Ukraine as the Korean government is pledging broad cooperation with the country in rebuilding destroyed cities.
 
To facilitate the cooperation, Ukraine agreed to provide the Korean government with information about 5,000 planned reconstruction projects in Ukraine at a forum in Poland Monday, attended by Land Minister Won Hee-ryong and Ukrainian Infrastructure Development Deputy Minister Oleksandra Azarkhina.
 
The database contains the estimated costs, types of reconstruction and responsible government agencies, and the Ukrainian government plans to make the data public next month.
 
Sambu Engineering & Construction clinched a memorandum of understanding with the city of Konotop to cooperate on urban redevelopment at the forum.
 
The Korean government pledged to support rebuilding destroyed cities in Ukraine by drawing upon its advanced digitalization capabilities and the country’s experience of building infrastructure after the Korean War.
 
“The Korean government will encourage Korean public corporations and private companies to take part in rebuilding Ukraine’s infrastructure, including transformation into a smart city and digitalized national transportation system,” Won said during the forum.
 
The announcement came as the Yoon Suk Yeol administration tilts more toward Ukraine in its ongoing war with Russia.
 
Korea’s Finance Ministry signed a preliminary agreement with Ukraine to offer low-interest rate loans through its aid fund to help the war-torn country rebuild urban infrastructure.
 
The reconstruction initiative is expected to be highly costly and complex.
 
The reconstruction cost is estimated at $411 billion, according to joint research by the Ukrainian government, the World Bank Group, the European Commission, and the United Nations.
 
However, the estimation only covers a one-year period between February 2022 through the same month this year.
 
On the sidelines of the forum, Won gathered with high-ranking officials from Poland, although the topics of the discussions were not disclosed.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]