South Korea will provide Ukraine with $2.3 billion for post-war reconstruction: an initial $300 million in 2024 in humanitarian aid and the rest in low-interest loans from 2025, South Korean President Yun Suk-yeol said, South Korea’s Yonhap news agency wrote.
“South Korean President Yun Suk-yeol on Sunday pledged to provide Ukraine with an additional $2.3 billion to help the country restore peace and recover from its war with Russia. Yoon announced the pledge during a session at the G20 summit in New Delhi, saying South Korea will provide an initial $300 million in 2024 in humanitarian aid and the remaining $2 billion in long-term aid – low-interest loans through the Economic Development and Cooperation Fund (EDCF) starting in 2025,” the agency said.
“This will demonstrate our responsible role as a global pivot power in leading assistance to restore peace in Ukraine and lay the foundation for our full participation in Ukraine’s reconstruction,” Yoon Seok-yeol said.
As previously reported, Seoul earlier increased the amount of financial assistance to Ukraine under the state budget to $393 million in 2024.
South Korea and the United States began major joint military drills on Monday to bolster military readiness amid heightened tensions over North Korea’s missile tests and tougher rhetoric toward allies, Renhap news agency reported.
The annual Ulchi Freedom Shield (UFS) exercise, “based on a total war scenario,” will include “contingency” drills, computer simulation-based command post drills, parallel field exercises and civil defense drills. They will continue until August 31.
According to a spokesman for the Joint Chiefs of Staff of the South Korean Armed Forces, about 30 joint allied field training exercises are planned during the exercise period.
He stressed that the exercise is “designed as a tough and realistic training to strengthen the alliance’s joint defense posture and response capabilities based on scenarios reflecting various security threats.”
In addition to South Korean and U.S. participants, personnel from nine member countries of the United Nations Command (UNC), (a joint multinational military command established in 1950 to support South Korea): Australia, Canada, France, Britain, Greece, Italy, New Zealand, the Philippines and Thailand, will join the exercise, Renhap reported.
The agency noted that the South Korean military is stepping up its preparedness for possible military action by Pyongyang during the drills, as the DPRK has consistently called the U.S.-South Korean exercises a rehearsal for an invasion of North Korea.
South Korean intelligence agencies told parliamentarians last week that “the North is preparing various provocations during the joint drills, such as launching an intercontinental ballistic missile,” according to the report.
The agency said the CTAC report that North Korean leader Kim Jong-un inspected the 2nd Guards Division of surface ships of the Korean People’s Army Navy’s Eastern Fleet Eastern Fleet and observed missile launches was “a clear expression of protest against the drills.”
Ukrainian President Vladimir Zelensky has spoken in favor of developing economic relations with South Korea and called for allowing the delivery of Korean anti-aircraft systems to Ukraine.
“Given the resources Ukraine has and the technology Korea has, I believe we can achieve great results in the field of lithium batteries,” he said in an interview with Chosun Ilbo.
“We are trying to rebuild the country by learning from Korea’s experience in the ruins of war and combining it with our own experience. We can cooperate a lot in security and defense, advanced technology and cyberspace, and in the process of rehabilitating our people after the war. We are also very interested in cooperation in the field of green energy. Given Ukraine’s resources, Korea’s large reserves and technological capabilities, I think the field of lithium batteries is very promising. After lithium extraction in Ukraine, it’s possible to produce related products. We have lithium production capacities from the time of the former Soviet Union,” he also said.
In addition, Zelensky noted assistance to Ukraine in terms of demining. “Currently, about a third of Ukraine’s territory is covered with anti-personnel mines. Thousands of farmers, civilians and children have been killed or disabled because of Russian anti-personnel mines. Mine clearance equipment is one of Ukraine’s most important defense systems that saves lives. The demining equipment that South Korea has decided to provide will save the lives and health of countless farmers and children,” Zelensky said.
The president also called for assistance to Ukraine with deliveries of anti-aircraft systems. “We know that there are several restrictions on arms support. However, I believe that Korea’s principles should not apply to defense systems and equipment to protect energy systems. Air defense systems are purely defensive equipment, not weapons. There must be a “sky shield” to rebuild Ukraine. We sincerely hope that Korea will support us in this area. Besides, there is an early warning system for Russian air strikes, which also needs help from South Korea,” the president said.
Ukrainian President Volodymyr Zelensky, during a meeting held as part of a working visit to Japan to attend the G7 summit, discussed the recent visit of a Ukrainian delegation with President Yoon Seok Yeol of the Republic of Korea.
“Told about the situation on the front and the progress of our state’s repulsion of full-scale aggression. Discussed the recent visit of the Ukrainian delegation to the Republic of Korea. Acknowledged the attention to the projects presented by the first lady of Ukraine,” Zelensky wrote in his telegram channel on Sunday.
He also thanked for the humanitarian and non-lethal assistance to Ukraine provided by South Korea, in particular for the provision of demining machines and protective equipment.
According to the press service of the President of Ukraine, the parties confirmed the agreements reached during the Ukrainian delegation’s stay in South Korea and agreed to exchange visits of the delegations.
Zelenskyy also noted the high level of organization of the visit and thanked for the attention to the projects presented by the first lady of Ukraine.
A delegation of South Korea’s ruling People’s Power party will visit Ukraine next month, Yonhap reports citing officials.
Party chairman Lee Jung Suk and some party lawmakers will travel to Ukraine in early June as part of a “special delegation of Korean-Ukrainian freedom, peace and solidarity,” they said.
The exact date of the visit has not yet been determined.
“South Koreans deplore the situation in Ukraine and hope for a speedy peace,” the party’s press release quoted the agency as saying.
As noted in the Power of the People, their party will be the first political party in Asia to send a delegation to Ukraine.
South Korea plans to provide Ukraine with an additional 2 billion won ($1.6 million) in non-lethal aid this month, Yonhap News has reported, citing an informed source.
According to the source, Seoul is preparing to start sending items such as bulletproof vests, helmets, medical supplies and ready-to-eat food to Ukraine as early as next week.
South Korea plans to phase out new aid on civilian flights to Europe until the end of April.
Seoul already sent 1 billion won in aid last month.
