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Gov't Pledges $2.3 Bln to Ukraine in Humanitarian, Reconstruction Aid

Written: 2023-12-04 14:45:30Updated: 2023-12-04 15:08:27

Gov't Pledges $2.3 Bln to Ukraine in Humanitarian, Reconstruction Aid

Photo : YONHAP News

Anchor: The government has announced a total of two-point-three billion U.S. dollars in humanitarian and development aid to war-torn Ukraine to support the country's post-war reconstruction and the participation of South Korean firms in various infrastructure projects. After President Yoon Suk Yeol's pledge earlier this year, the finance ministry announced an allocation breakdown as administration seeks realize the president's promise.
Choi You Sun reports.

Report: South Korea has announced 300 million U.S. dollars in development and humanitarian contributions to war-ravaged Ukraine as part of a two-point-three billion dollar package.

In an economy ministers' meeting on Monday, finance chief Choo Kyung-ho announced the allocations to support the establishment of peace in Ukraine and participation by South Korean businesses in the country's reconstruction projects.

[Sound bite: Finance Minister Choo Kyung-ho (Korean/English Translation)](04:52)
"In the short term, Seoul will contribute 100 million dollars to multilateral development banks in 2024 and another 200 million dollars for humanitarian aid to actively take part in the international community's discussion on reconstruction. In the mid to long term, Seoul plans to offer an economic development cooperation fund worth two billion dollars to enable South Korean firms to contribute to Ukraine's infrastructure reconstruction and industrial modernization."

The announcement outlines the aid package first pledged by President Yoon Suk Yeol while attending a Group of 20 Summit in New Delhi in September.

Based on its post-war reconstruction and development experience, Seoul will actively support application of the country's policy-advising knowledge sharing program(KSP) and economic innovation partnership program(EIPP) in initiatives with Ukraine.

The government will swiftly push to launch such policy-advising programs next year in areas where Ukraine seeks to cooperate with South Korea, including in mid- to long-term economic development, industrial innovation and creation of an industrial complex.

Seoul will also push to sign economic partnership agreements(EPA) with eight countries with vast resources as well as population and growth potential, namely Kenya, Tanzania, Morocco, Thailand, Pakistan, Bangladesh, Serbia and the Dominican Republic. An EPA is a form of a free trade agreement with reinforced flexibility and elements of cooperation.
Choi You Sun, KBS World Radio News.

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