Rebuilding Ukraine: South Korea, Poland Join Forces
No one knows when Russia will stop invading Ukraine, which caused worldwide economic turmoil. Gas prices went up, followed by a soaring inflation rate. Several countries want to help the war-stricken nation. Particularly, South Korea and Poland wanted to help in rebuilding Ukraine.
South Korea, Poland Allied to Help in Rebuilding Ukraine
In the midst of the Russia-Ukraine conflict, South Korean President Yoon Suk Yeol formed an alliance with Polish President Andrzej Duda. They joined forces to help rebuild Ukraine, especially since Poland has the geopolitical advantage of upholding the invaded country.
“The two countries’ trade stood at a record high $9 billion (11.4 trillion won) last year, and South Korea is one of Poland’s most important investor countries. And I and President Duda agreed to continue necessary support to further expand bilateral trade and investments,” said President Yeol.
The South Korean president added that they are now impeccable partners in multifarious fields. It includes security, economy, and others. At the summit, the two governments signed three memoranda of understanding. They inked deals on transport infrastructure, trade and investment promotion framework, and rebuilding Ukraine. The MOU on Ukraine rehabilitation explains how S. Korea and Poland will collaborate in the areas of land, city, and facilities to restore Ukraine.
Moreover, Poland’s structural vicinity and close relations with Ukraine make several countries perceive that it’s a ” perfect centre point” for Ukraine’s rehabilitation projects. The expected capital funding could reach over $1 trillion.
The significance of the relations between the two countries expanded quickly after Russia’s Ukraine invasion. The latter shares the border with Poland, prompting President Duda to boost its defence expenditure. This year, he will designate 4% of its domestic product to military goals and will seek S. Korean heavy ammunition and tanks.
Poland Seeks Additional Armaments
In 2022, Poland and S. Korea signed a weapons agreement. It includes 48 FA-50 light attacker aircraft and 288 Chunmoo Multiple Launch Rocket Systems. The Polish government also purchased 648 K-9 self-propelled howitzers and 980 K2 battle tanks. The deal increased the Asian country’s weapon exports to Poland to $340 million from the first to the second quarter of this year.
President Yeol noted that his government and Poland could be excellent partners for reconstructing Ukraine. He’s positive that the MOU will become a good foundation for extending cooperation between the two countries businesses.
According to President Duda, he wants a local production of South Korean arms. President Yeol, on the other hand, agreed to join forces in terms of defence and develop it in a way it will benefit the two countries.
“We hope that we will not only buy new defence equipment for our soldiers in South Korea but that it will also be produced in Poland,” said the Polish president.
Apart from defence cooperation, both countries accepted that “nuclear energy is the idyllic solution that can secure both energy security and carbon neutrality. Likewise, it will provide government-level support to businesses involved in Polish nuclear power plant projects.
South Korea is expecting to export its APR-1400 nuclear reactors to Poland. Korea Hydro & Nuclear Power, Polska Grupa Energetyczna, and ZE PAK, on the other hand, signed a letter of intent to collaborate on a construction project for a nuclear power plant in Patnow in the heart of Poland.
Image Source: Oleksandr Ratushniak/WikimediaCommons