The Deputy Prime Minister for Reconstruction and Minister of Community and Territorial Development of Ukraine, Oleksiy Kuleba, held discussions in Seoul with Hwan Ki-yong of Eximbank Korea and representatives from the Economic Development Cooperation Fund of the Republic of Korea (EDCF) regarding the modernization of the Ukrainian railway system.

According to the press service of the Ministry of Development, this meeting was part of a working visit by the Ukrainian delegation to the Republic of Korea. Key topics included financial support for the purchase of 20 high-speed electric trains manufactured in Korea, which will significantly enhance passenger transport capacity and alleviate seating shortages during peak times.

Kuleba also met with passenger rolling stock manufacturers, where they presented their vision for the development of the Ukrainian railway and the need for fleet modernization.

The ministry noted that Korea has already opened a framework opportunity for Ukraine for concessional financing of up to $2.1 billion for the years 2024-2029. This has become one of the largest financial support instruments for Ukraine from partners in Asia. The first tranche of $100 million has already assisted in maintaining financial stability and timely social payments amid the ongoing war.

Additionally, it is worth mentioning that the Cabinet of Ministers approved a draft letter on September 10 to the Government of the Republic of Korea requesting a loan for the implementation of the public investment project, «Purchase of 20 high-speed electric trains manufactured in Korea».