Minister of Foreign Affairs of Ukraine Andriy Sybiha, within framework of his visit to Republic of Korea, participated on Monday in roundtable in Seoul with participation of representatives of leading Ukrainian and Korean companies, which took place at base of state corporation Korea Overseas Infrastructure & Urban Development Corporation (KIND).
As reported on SBU website on Monday, this is first visit of Minister of Foreign Affairs of Ukraine to Republic of Korea in 11 years. At same time, Republic of Korea is 11th economy in world by GDP level, and Ukraine is particularly interested in deepening cooperation with this country.
Sybiha noted that trade turnover between Ukraine and Republic of Korea last year exceeded $1.3 billion and surpassed indicator of 2021, which is evidence of significant potential of Ukrainian-Korean economic partnership.
Minister outlined key areas of greatest interest to Ukraine: energy, security sphere, infrastructure and logistics development, as well as recovery and reconstruction of Ukraine. Also, according to him, Ukraine is interested in expanding cooperation in field of nuclear energy, particularly regarding creation of new generating capacities, increasing safety, and implementing innovative technologies, and is also open to implementation of joint projects in fields of renewable energy, hydrogen economy, and modernization of electricity grids.
"Due to war and constant Russian attacks, we were forced to carry out large-scale decentralization of energy system. As result, today Ukraine has one of most resilient energy systems in world and is ready to share this experience. In addition, Ukraine possesses largest underground natural gas storage facilities in Europe. All these advantages can be used by your companies," Sybiha noted.
Head of MFA emphasized that restoration of transport infrastructure of Ukraine opens up wide opportunities for Korean business in areas of railway infrastructure, seaports, highways, urban development, and modern logistics.
"Ukraine is integrating ever deeper into global logistical chains, and Republic of Korea has unique experience in this area. We strive to turn this experience into joint practical projects in Ukraine. Reliable basis for this is credit program with volume of $2.1 billion within framework of Economic Development Cooperation Fund (EDCF)," he emphasized.
Sybiha also noted potential of cooperation in agricultural sector, particularly in field of high-tech agriculture using unmanned technologies. "Ukrainian agricultural products are distinguished by high quality and are competitive in price. Korean consumers will also benefit from this. We are open to development of such cooperation," minister noted.
Head of MFA emphasized that Ukraine, after joining EU, will automatically join Free Trade Agreement between EU and Republic of Korea, but until that time is interested in developing legal framework and developing trade with Republic of Korea, particularly in concluding economic partnership agreement or introducing preferential trade regimes for certain categories of goods.
"I am convinced that soon security cooperation in our bilateral relations will reach new level. Ukrainian defense industry today is one of most dynamic in world. We possess unique unmanned technologies tested in real combat conditions, which have significant potential for civilian use as well," minister emphasized.
Head of MFA proposed to hold business forum in Ukraine soon with participation of leading Ukrainian and Korean companies.
