Kyiv and Seoul launched a new economic innovation partnership program (Economic Innovation Partnership Program), which will be implemented by the South Korean government in cooperation with the Ukrainian side over the next four years. About this reported Ministry of Economy of Ukraine.
The government of South Korea plans to allocate 10 million dollars for the implementation and restoration of infrastructure projects in Ukraine within the framework of the new economic partnership program. The program includes strategic consultations, project development and pre-project research for the development of long-term economic cooperation between the countries.
It is expected that within the framework of the initiative up to 25 projects will be implemented, for which the South Korean state corporation KIND (Korea Overseas Infrastructure & Urban Development Corporation) will be responsible.
“We see great prospects in the partnership with KIND within the framework of the new program in both the public and private sectors. It is possible to join the financing of priority initiatives for the government within the Unified project portfolio of public investments, as well as private projects, which are presented in the Investment Guide. We hope for KIND’s participation in the technical preparation of projects, as we do within the PPF and PPU with the World Bank, EIB and EBRD. Another promising direction is privatization — consulting assistance and attracting investors.” – stressed the First Deputy Minister of Economy Oleksiy Sobolev.
The Ministry of Economy noted that KIND has been participating in the reconstruction of Ukraine for more than two years. Current projects include the transportation master plan of the Kyiv region, airport reconstruction plans, railway infrastructure renewal, and other initiatives with the participation of municipalities. In addition, the corporation is ready to work on the general planning of industrial parks in Ukraine and contribute to reducing risks for investors.
