South Korea Supports Reconstruction of Ukraine

[The Guru=Reporter Hong Seong-Hwan] The Korean government supports the reconstruction of a dam in Ukraine. It is expected that Korean companies will expand their participation in post-war reconstruction projects.

The Ministry of Ukrainian Environmental Protection and Natural Resources announced on the 30th that it will carry out the reconstruction of the Kozarovychi Dam in the capital Kyiv Oblast as a pilot project for restoring national water management infrastructure in cooperation with the Korean government.

This is following the Memorandum of Understanding (MOU) on universal cooperation in the field of environment, which was signed by the governments of the two countries at the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change held in Dubai, United Arab Emirates (UAE) in December last year, according to the Ministry of Environmental Protection and Natural Resources.

The dam was damaged in the early stages of the Russian invasion. The cost of emergency restoration is estimated at $14 million. The Korea Water Resources Corporation and the Korea International Cooperation Agency (KOICA) are expected to support the reconstruction project.

Meanwhile, the World Bank estimated the cost of rebuilding Ukraine would be $411 billion. The cost that urgently needs to be invested in the recovery of energy, housing, and core infrastructure is estimated at $14 billion.

According to the Ukraine Reconstruction Conference (URC2023) held in London UK in June, if the war ends shortly, the first phase of the reconstruction project which includes the recovery of roads, bridges, and water facilities, will start this year. The second phase which includes the construction of temporary housing, schools, and hospitals, is planned to be completed by 2025. By 2032, the third phase of the reconstruction project which includes economic recovery and the establishment of digital infrastructure, is expected to be completed.

By. Sung Hwan Hong