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Land minister to visit Ukraine next month seeking post-war reconstruction deals
Minister of Land, Infrastructure and Transport Won Hee-ryong, center, speaks during a press conference at the Government Complex in Sejong, Monday. Yonhap
By Park Jae-hyuk
By Park Jae-hyuk
The land minister said Monday that he will visit Ukraine in September to help Korean companies take part in a $140 billion project to rebuild the country's transport and energy infrastructure once the war there ends.
“At first, we will focus on governmental assistance and loans for Ukraine, a feasibility study on the reconstruction projects, backup operations in Poland and the establishment of personal, physical and systematic footholds to organize consortiums for the project,” Minister of Land, Infrastructure and Transport Won Hee-ryong told reporters, adding that the date of his visit could change.
He was initially expected to visit Kyiv this month with executives of Korean companies, which had sent their representatives to a meeting in Poland last month for Ukraine's reconstruction projects.
Samsung C&T, Hyundai E&C, Kolon Global, HD Hyundai XiteSolution, Hyundai Rotem, Yooshin Engineering, Naver, Korea Land & Housing Corp. (LH), Korea Water Resources Corp., International Contractors Association of Korea and Export-Import Bank of Korea took part in that meeting, which was attended by Won, as well as President Yoon Suk Yeol, who paid an unexpected visit to Ukraine.
Among the Korean firms, Hyundai E&C signed a memorandum of understanding (MOU) with Ukraine's Boryspil International Airport for reconstruction and expansion projects. Samsung C&T signed a smart city development deal with Lviv, a city in western Ukraine.
Once the land minister visits Ukraine, the Ministry of Trade, Industry and Energy is expected to send a business delegation comprised of executives from energy suppliers.
During Monday's press conference, Won also mentioned the ministry's plan to impose a 10-month suspension of business on GS E&C over the collapse of an underground parking garage at an apartment building under construction in Incheon. GS E&C, one of Korea's largest builders, took part in the construction of the parking garage.
“We warned that the leading building developer should have been more careful about preventing such an accident,” the minister said, although he did not rule out the possibility of the construction company filing a lawsuit against the punitive measure.
Won emphasized that LH and land ministry officials will also face punishment for habitually overlooking poor construction work.
He also said that the ministry will focus on “fine-tuning” steps, so that people do not believe that the declining supply of houses will lead to another sharp rise in domestic apartment prices.