The 1,200-trillion-trillion Ukrainian reconstruction project ends several weeks before next month

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The June Reconstruction Conference in England… Attention of each country
Establishment of a new national system such as industry and finance
MOU with the Ministry of Land, Infrastructure and Transport and the Ukrainian government… To hand over the list of 5,000 reconstruction projects
US-European countries compete behind the scenes to preoccupy the market… Business world “urgency to establish inter-governmental network”

A village in Donetsk, Ukraine, where a battle between Ukrainian and Russian forces took place on March 26 this year (local time). Recently, the Ukrainian government has been developing a large-scale national reconstruction plan. AP Newsis

“The 1200 trillion won market opens.”

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Ahead of the 2nd Ukraine Reconstruction Conference to be held in London, England on June 21-22, interest in the reconstruction project in Ukraine, which will become the largest construction site in the world, is growing. As the Ukraine reconstruction project is estimated to be worth 900 billion dollars (about 1,200 trillion won) over the next 10 years, competition between countries and companies to win the reconstruction project is expected to intensify.

Starting with the recent summit between President Yoon Seok-yeol and Ukrainian President Volodymyr Zelensky, Korea is also stepping up its participation in the reconstruction project. As the United States and European Union countries have already started fierce behind-the-scenes work to preoccupy the reconstruction project in Ukraine, voices are calling for the Korean government and companies to move more quickly.

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● ‘Land of opportunity’ Ukraine ‘New building’ beyond ‘rebuilding’

According to the Ministry of Land, Infrastructure and Transport on the 25th, the reconstruction project in Ukraine is expected to reach 900 billion dollars over the next 10 years. In particular, Ukraine is planning a ‘new building’ that upgrades the overall social system such as culture, education, finance, and industry beyond the level of ‘rebuilding’ that simply restores infrastructure damaged by war, so large-scale orders are expected to come out.

Developed countries such as the United States, Italy, and Germany have already presented various plans to provide large-scale aid to Ukraine and lead reconstruction projects since last year. In particular, the EU and the G7 have already launched a multi-aid platform to support and plan post-war recovery projects early this year.

The U.S. has provided 80 billion dollars in support by the beginning of this year, and Europe has also provided billions of dollars in support. On the other hand, Korea provided a total of 100 million dollars in aid last year and announced an additional 130 million dollars in February this year, which is insignificant compared to major countries. There are also concerns that Korea may face difficulties in winning high value-added orders in the future as it is also excluded from the multilateral aid platform.

● Voice of “urgent cooperation between governments”

Among companies, there is a high voice that the government should take the lead in strengthening government-to-government (G2G) cooperation to provide a platform for companies to enter the market.

An executive of the global business department of a large construction company said, “Major European construction companies already have joint ventures in Ukraine, so they can start reconstruction projects in the future without a separate construction license acquisition process.” “It is difficult for domestic companies to enter Ukraine.” did. Currently, Ukraine is a Level 4 travel ban and a country subject to bans on the use of passports without permission, making business trips by private companies virtually impossible.

There are also opinions that the government should create opportunities for networking with other countries and companies that have preoccupied the reconstruction project. A person in charge of another construction company said, “In the end, we will carry out major projects in developed countries such as the United States, so we have to participate jointly with those countries and companies.”

The government is also making efforts to open the door to cooperation. First of all, Land Minister Won Hee-ryong met with Ukrainian Vice Minister of Infrastructure Oleksandra Azarkina in Warsaw, Poland on the 23rd (local time) of this month and signed a memorandum of understanding (MOU) for cooperation in reconstruction projects. On this day, Vice Minister Azarkina decided to provide us with the database ‘Dream’, which contains information on 5,000 reconstruction projects that Ukraine will promote in the future. It is detailed data that includes reconstruction project areas, competent ministries, and local governments.

An official from the Ministry of Land, Transport and Maritime Affairs said, “We received data in advance that will be released at the ‘Ukraine Reconstruction Conference’ next month.”


Ukrainian War Year 1

Source: Donga

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