South Korea to offer $52 billion for Ukraine's reconstruction projects.

South Korea will offer assistance worth £52 billion to Ukraine's reconstruction projects, the Korea Herald reported[1] on July 14, citing South Korea's presidential office. The Ukrainian government has requested the involvement of South Korean companies in around 5,000 projects, estimated at £20 billion, said presidential economic secretary Choi Sang-mok. In addition, Seoul will extend support to the Ukrainian private sector worth £32 billion, the Korea Herald cited Choi.

The assistance will focus on the construction of schools, housing, and hospitals. Seoul also plans to assist Ukraine in rebuilding water infrastructure after the destruction of the Kakhovka dam, the outlet wrote. The private sector aid will reportedly encompass nuclear power plants, airport reconstruction, construction machinery, railway vehicles, and information technology.

During a visit to Poland that took off on July 13, South Korea's President Yoon Suk Yeol said[2] that Seoul will cooperate with Warsaw on the reconstruction projects. According to the World Bank's assessment from March, Ukraine will need[3] at least £411 billion for recovery and reconstruction. This figure equals 2.6 times Ukraine's projected gross domestic product in 2022.

The Asian country has previously provided[4] Ukraine with humanitarian aid and promised additional assistance of £230 million. At least publicly, Seoul has been hesitant to provide military assistance despite Kyiv's appeals. On May 25, the Wall Street Journal however reported[5] that South Korea may transfer artillery rounds to Ukraine under a "confidential arrangement" with the U.S.

Halushka, Shevchuk: A call to put Russian assets toward Ukraine's reconstruction

Last week, the U.K. co-hosted the Ukraine Recovery Conference in London. Held on June 20-21, the event was dedicated to mobilizing the public and private sectors for Ukraine's recovery. While a lot of brilliant plans were voiced, the elephant in the room remained the question of who will

[6] Martin Fornusek

News Editor

Martin Fornusek is a news editor at the Kyiv Independent.

He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He also volunteers as an editor and translator at the Czech-language version of Ukrainer. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.

References

  1. ^ reported (www.koreaherald.com)
  2. ^ said (www.president.go.kr)
  3. ^ need (kyivindependent.com)
  4. ^ provided (time.com)
  5. ^ reported (kyivindependent.com)
  6. ^ Halushka, Shevchuk: A call to put Russian assets toward Ukraine's reconstructionLast week, the U.K. co-hosted the Ukraine Recovery Conference in London.

    Held on June 20-21, the event was dedicated to mobilizing the public and private sectors for Ukraine's recovery.

    While a lot of brilliant plans were voiced, the elephant in the room remained the question of who will (kyivindependent.com)

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