The United Kingdom and South Korea signed a new agreement to work together on Ukraine’s rebuilding and global infrastructure projects. UK Business Minister Gareth Thomas and Korean Overseas Infrastructure CEO Bok Hwan Kim signed the deal in London on May 22. This opens the door for companies from both countries to team up on projects not just in Ukraine but in other markets too.
The agreement focuses on practical needs like fixing housing, hospitals and power systems in Ukraine. It will also cover work in transport, healthcare, smart cities and clean energy elsewhere.
“This agreement will secure vital opportunities for UK businesses,” said Thomas.
The partnership matches South Korea’s building expertise with British advisory services, engineering skills and financing options.
Ukraine faces massive rebuilding costs, with the World Bank putting the figure at $524 billion over ten years. Housing, transport and energy have been hit hardest by the war. The UK has already committed £5 billion in non-military support to Ukraine, and this new partnership helps deliver on that promise. British officials are working closely with Ukrainian ministers and mayors to identify what’s needed most, making sure reconstruction follows Ukraine’s own priorities.
The Korean Overseas Infrastructure & Urban Development Corporation (KIND) was established in June 2018 by the Government of the Republic of Korea to support Korean companies for project planning, feasibility studies, project information and project bankability.
