S. Korea eyes $52b Ukraine reconstruction project

President Yoon Suk Yeol, who is on an official visit to Poland, has an expanded meeting with Polish President Andrzej Duda at the presidential palace in Warsaw on Thursday. (Yonhap)

WARSAW, Poland -- South Korea will offer comprehensive support from both the public and private sectors for Ukraine reconstruction projects valued at $52 billion, according to the presidential office.

"Ukraine has requested the involvement of Korean companies in approximately 5,000 construction projects, estimated at $20 billion, through an intergovernmental cooperation channel in May," said Choi Sang-mok, economic secretary for President Yoon.

According to Choi, the government will begin construction site evaluation of modular units to quickly provide essential spaces for human living such as schools, housing and hospitals. The site inspection will be conducted with official development assistance (ODA) funds, he said.

The government also plans to support provide technical assistance for water infrastructure reconstruction, supplementing humanitarian aid already offered for the destroyed Kakhovka Dam.

Choi added that tailored support will be extended to the private sector-led reconstruction project, currently valued at about $32 billion. The project encompasses various sectors including: small modular reactor (SMR) nuclear power plants, airport reconstruction, construction machinery, railway vehicles and information technology.

"Even as the conflict continues and the reconstruction effort is in the early stages, we will prepare for our role in the reconstruction project as diligently as the Ukrainian government desires," Choi said.

By Shin Ji-hye(shinjh@heraldcorp.com)