South Korea is exploring the possibility of using seized Russian assets
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South Korea is studying the possibility of using seized Russian assets seized by Western countries, from the point of view of using them to finance projects of South Korean organizations as part of the post-war reconstruction of Ukraine, RIA Novosti writes.
With reference to documents from the South Korean Ministry of Industry and Trade, it is reported that these plans were discussed by the authorities with business. According to them, a group will be sent to Ukraine to deal with the participation of South Korean business in the construction of post-war Ukraine. It is also reported that Seoul plans to cooperate with other states in this matter and attract money from international organizations. Reportedly, Russian assets seized by Western countries also fall into this category.
The report says that projects for the restoration of Ukraine will be presented in Seoul at the end of November. On September 13, South Korea and Ukraine signed an intergovernmental agreement in Kyiv on the allocation by the South Korean Foreign Economic Cooperation Fund (EDCF) of long-term financing of US$2 billion for reconstruction projects in Ukraine by Korean companies. At the same time, the total cost of the post-war reconstruction of Ukraine is estimated by Seoul at $900 billion.
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