Oschadbank and Korean government agency KIND signed memorandum on cooperation in economic recovery and development of Ukraine

Yesterday, Oschadbank and Korea Overseas Infrastructure and Urban Development Corporation (KIND) have signed a memorandum of intent to develop joint projects aimed at recovery and development of the Ukrainian economy. The document refers to cooperation in disseminating information, organizing joint meetings, training, and roadshows, as well as conducting research, study and planning of investments in the Ukrainian economy. The signing took place as part of the Ukrainian-Korean Business Forum was held in Kyiv yesterday.

KIND is a Korean government agency established in 2018 under the auspices of the Ministry of Land, Infrastructure and Transport of South Korea to carry out investment and development activities in infrastructure and urban projects around the world with the involvement of Korean companies and private investments. Among its shareholders are the Government of South Korea, Korea Exim Bank, Korea Construction Guarantee, Korea Land & Housing Corp. and others. The main goal of the institution is to support Korean direct investments abroad. The priority sectors of its activity are transportation, urban development, energy, environment and social development.

"We are actively working to find opportunities for the development of the Ukrainian economy around the world. I am grateful to our Korean partners for choosing Oschadbank as a banking partner for further projects. We are well aware of the Ukrainian business environment and are ready to offer our own expertise to make future projects of our Korean partners as efficient as possible: both for investors and for the Ukrainian state. Participation in this and similar initiatives will allow Oschadbank to become a real hub of assistance to Ukrainian business, where domestic companies will be able not only to obtain loans on attractive terms, but also to learn about options for raising capital from international partners," said Sergii Naumov, Chairman of the Management Board of Oschadbank.

The signing of the memorandum took place at a high level in the presence of Oleksandr Kubrakov, Vice Prime Minister for Restoration of Ukraine - Minister for Communities, Territories and Infrastructure Development of Ukraine, and Won Hee-ryong, Minister of Land, Infrastructure and Transport of South Korea.

"The signing of the memorandum is a logical continuation of our relations with Korean partners for the development of Ukraine, which began after the Korean-Ukrainian-Polish conference in Warsaw. Today, during the Ukrainian-Korean Business Forum, we have already held a trilateral meeting of Oschad’s clients interested in cooperation with Korean partners with KIND management. We are confident that the involvement of Korean investors in the development of Ukraine will contribute not only to its economic growth, but also to improving the quality of design and technological solutions for infrastructure projects," emphasized Yuriy Katsiyon, Deputy Chairman of the Management Board of Oschadbank, who signed the memorandum on the Ukrainian side.