Ukraine and South Korea concluded an agreement on loans on preferential terms



On Thursday, September 14, President Volodymyr Zelenskyi held a meeting with the Minister of Lands, Infrastructure and Transport of the Republic of Korea Won Hee-ryong, who is in Ukraine on a visit at the head of a delegation of the Korean government and business.

This was reported by the press service of the President’s Office.

“In the presence of the President of Ukraine and the Minister of Land, Infrastructure and Transport of Korea, the Agreement between the Government of Ukraine and the Government of the Republic of Korea regarding loans from the Economic Development and Cooperation Fund (EDCF) was signed”, – the message says.

According to the agreement, preferential loans are provided for the implementation of projects in Ukraine with the participation of Korean companies.

The President thanked the Korean side for supporting the sovereignty and territorial integrity of Ukraine and providing significant assistance to our country.

“I am grateful for the decision of the government of the Republic of Korea to provide Ukraine with financial support in the amount of 2.3 billion US dollars for reconstruction and rehabilitation. This will give a tangible boost to the development of Ukrainian infrastructure.” – said Zelensky.

Zelensky also called on representatives of Korean business to actively work on the Ukrainian market and participate in the implementation of projects in the fields of nuclear and renewable energy development, machine building, automobile industry, lithium mining, oil refining, “green” metallurgy, railway transport, water resources and local infrastructure.

Won Hee-Ryong assured of Korea’s continued support for Ukraine and expressed his belief that bilateral cooperation can be expanded in various areas of mutual interest.

It will be recalled that the President of South Korea, Yoon Seok-yeol, said that Seoul will provide Ukraine with an additional 2.3 billion dollars in aid to rebuild the country after the Russian attacks.

It is also known that South Korea has increased aid to Ukraine eightfold next year.

In July, the president of South Korea arrived in Ukraine on an unannounced visit.

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Source: Ukraine and South Korea concluded an agreement on loans on preferential terms


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