South Korea may allocate more than $2 billion to Ukraine
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South Korea promised to allocate $2.3 billion to Ukraine in the form of humanitarian aid and soft loans, reported Yonhap Agency with reference to the President of the Republic Yoon Seok Yeol.
The Korean leader announced this at the G20 summit in New Delhi. According to the agency, $300 million in humanitarian aid will be provided in 2024, and $2 billion will be channeled into low-interest loans through the Korean Economic Development and Cooperation Fund (EDCF).
“This will demonstrate our responsible role as a key global state in helping to restore peace in Ukraine and will lay the foundation for our full participation in the future recovery of Ukraine,” the presidential office said.
In May, Yun Suk-yeol met with Ukrainian President Vladimir Zelensky at the G7 summit. Then it was announced that it had agreed to supply American-made fourth-generation F-16 fighters to Kyiv. Prior to this, the president admitted the possibility of arms deliveries in the event of a threat to the safety of the civilian population of Ukraine.
As the press secretary of the Russian President Dmitry Peskov stated, South Korea has taken an “unfriendly position” towards Russia, and possible supplies of weapons to Kyiv will mean “a certain stage of Seoul’s involvement in the conflict.”
Yoon Seok Yeol during his visit to Kyiv on July 15 announcedthat Korea will send Ukraine a batch of military cargo and humanitarian aid worth $150 million.
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