Korean businessmen to visit Ukraine in mid-September

South Korean President Yoon Suk Yeol and Ukrainian President Volodymyr Zelensky shake hands after a joint press presentation for the Korea-Ukraine summit at the Mariinsky Palace, the presidential residence in Kyiv, Ukraine, on July 15 (local). [Photo by Yonhap]

A large contingent of South Korean businessmen is set to visit Ukraine in the middle of September. Although many countries, including the U.S. and Europe, have participated in reconstruction efforts since the Russia- Ukraine war broke out, Korea will be the first to send such a large business group.

According to the Ministry of Land, Infrastructure, and Transport Friday, the Korean delegation for Ukraine reconstruction cooperation led by Land Minister Won Hee-ryong will head to Ukraine in the middle of the month. Won will be accompanied by 20 businessmen from public and private companies, including Samsung C&T Corp., Hyundai Engineering & Construction Co., Hyundai Rotem Co., Naver Corp., Hanwha Corp., KT Corp., POSCO International Corp., Eugene Corp., CJ Corp., Hanwha Solutions Corp., HD Hyundai Construction Equipment Co., International Contractors Association of Korea, Korea Land & Housing Corp., Korea Water Resources Corp., Korea Railroad Corp., and Korea Airport Corp. Given the situation, companies are limited to one visitor to Ukraine, according to sources.

Since Korean President Yoon Suk Yeol’s visit to Ukraine in July, when he held a summit with Ukrainian counterpart Volodymyr Zelensky, the two countries have actively discussed Korean companies’ participation in local reconstruction projects. Won planned to travel to Ukraine with businessmen in late August but reportedly postponed the trip to ensure safety.

In Ukraine, Won will invite officials from the Korean government as well as public and private companies to network in addition to signing a memorandum of understanding (MoU) on participation in reconstruction projects between the two countries.

Businessmen visiting Ukraine as part of the delegation have been authorized by the Ministry of Foreign Affairs to travel to Ukraine. Korea has banned travel to Ukraine since the war broke out in February last year, with unauthorized visits to banned areas punishable under the Passport Act. Travelers must obtain authorization from the government to use their passports to visit the region. Businesspeople are not typically eligible for this exemption, but the government decided to allow businesspeople to visit in large numbers after Yoon’s visit to Ukraine.