Korea, Poland pledge cooperation on $52bn of Ukraine reconstruction

President Yoon Suk Yeol hosted an evening for Korean expats in Poland on Wednesday (Office of the President)
The governments of South Korea and Poland have agreed to cooperate on some $52bn of Ukrainian reconstruction projects, the Pulse business news service reports

Yoon Suk Yeol, the president of South Korea, signed a memorandum of understanding to that effect after a meeting with Andrzej Duda, his Polish counterpart, on Thursday.

The president visited Poland after attending the Nato summit in Lithuania earlier this week.

According to Korean assessments, domestic companies could participate in $20bn of projects from a list of 5,000 put forward to Korea by the government of Ukraine, as well as $32bn from 10 projects being carried out by the private sector.

Many of the 5,000 reconstruction schemes use modular methods and would rebuild schools, houses and hospitals, as well as items of water infrastructure including the destroyed Kakhovka dam.

Other ideas include masterplans for smart cities and advanced urban transportation systems.

The private sector projects are mostly large-scale. Hyundai Engineering & Construction is seeking opportunities in the small modular reactor market, and Samsung C&T is involved in a smart city project with Turkish construction companies. Other schemes may include airport reconstruction, the supply of construction machinery and rolling stock, and IT systems.

Meanwhile, the presidential office also announced that six outline agreements relating to Poland’s nuclear sector were signed.

Hyundai Engineering and Doosan Enerbility agreed to cooperate in the construction of nuclear power plants in the country, and Daewoo agreed to supply civil engineering services.

In addition, the Korea Institute of Technology Evaluation and Planning pledged to help with research and training.

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