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POSCO to rebuild Ukraine with modular construction projects
POSCO International Vice Chairman Jeong Tak, left, shakes hands with Mykolaiv Governor Vitaliy Kim after signing a memorandum of understanding for modular construction projects in the Ukrainian province to rebuild the country after the end of Russia's invasion, Tuesday (local time). Courtesy of POSCO International
By Ko Dong-hwan
POSCO International has pledged to help rebuild war-torn Ukraine by initiating modular construction projects to repair the country's critical infrastructure, according to the country's top steelmaker, Wednesday.
Its Vice Chairman Jeong Tak visited Ukraine from Monday to Wednesday and met Mykolaiv Governor Vitaliy Kim. The two signed a memorandum of understanding to build new steel modular manufacturing facilities in the province.
POSCO said it has chosen modular construction as a first step in its rebuilding process because its block-building method can save time on construction work and is thus effective for rebuilding Ukraine's key infrastructure — housing, schools and hospitals — fast.
"The modular construction can save project duration by up to 60 percent," said an official of the company based in Pohang, North Gyeongsang Province.
The project will demonstrate POSCO's comprehensive construction capabilities, according to the firm. The company's steel products will be put together by POSCO A&C, the company's engineering subsidairy that can design, manufacture and build modular structures.
"The fact that Kim is of Korean origin also helped with the MOU," the official said.
POSCO International Vice Chairman Jeong Tak, third from right, speaks during a meeting with Ukraine Prime Minister Denys Shmyhal, seventh from right, in Kiev, Monday (local time). Courtesy of POSCO International
Prior to signing the MOU, Jeong met Ukraine Prime Minister Denys Shmyhal, Deputy Head of the Presidential Office Rostyslav Shurma and First Deputy Minister for Communities, Territories and Infrastructure Development Yurii Vaskov in Kiev to discuss POSCO's role in the rebuilding process.
Jeong requested Ukraine's key government officials to support in the rebuilding process, which will involve the company's technological assets in the fields of steelmaking, energy, construction and IT. Shmyhal said the Ukraine government highly anticipates the firm's initiative and hopes the country will recover fast.
Jeong also met Vicor Ivanchyk, CEO of Ukraine's agro-industrial company Astarta, and discussed how the company can assist the country's food exports using a grain export terminal in Mykolaiv which the company has invested in. Starting operation in 2019, the terminal had exported about 2.5 million tons of Ukrainian grain to countries in Asia, the Middle East and Africa until Russia's invasion began in February 2022. Despite halting operations briefly at the onset of the war, the terminal hasn't sustained damage and is currently in operation, according to the company.
Jeong proposed to Ivanchyk that using the terminal might help resume the country's grain exports that have been put on hold due to the war.
Following his Kiev visit, Jeong heads to France on Thursday to help promote Busan's bid to host the World Expo in 2030.