The presidential office said Thursday that South Korea has joined a multinational donor group that coordinates financial assistance and reconstruction plans for Ukraine.

The Multi-agency Donor Coordination Platform for Ukraine (MDCP) which is led by the Group of Seven(G7) nations was started last year and involves other donor countries, the European Commission and Ukraine, as well as international financial institutions.

South Korea officially joined the platform during an MDCP steering committee meeting held Wednesday, along with the Netherlands, Norway and Sweden.

The top office said that by joining the MDCP, the country will not only work closely with key nations, including the G7, but also make efforts to use South Korea's experience of overcoming the adverse impact of war and defending liberal democracy, while the market economy can contribute to Ukraine's peaceful and democratic reconstruction and recovery.

South Korea announced the "Ukraine Peace and Solidarity Initiative" during President Yoon Suk Yeol's visit to Kyiv last July, and has committed 300 million U.S. dollars this year and an additional two billion dollars over the mid- to long-term.