Ukraine will receive almost US$400 million in aid from South Korea in 2024
Next year, South Korea will provide Ukraine with financial assistance worth 520 billion won (US$394 million), eight times more than this year.
Source: Reuters
Details: According to South Korea's 2024 budget, the aid package includes 130 billion won (US$98.3 million) for reconstruction, 260 billion won (US$196.5 million) for humanitarian aid, and another 130 billion won (US$98.3 million) through international organisations.
In July, President Yoon Suk Yeol announced that his country would provide Ukraine with "a large scale of military supplies" this year without further details.
Yeol also announced increased official aid from South Korea for developing strategic territories, including the Asia-Pacific region and Africa, from 1.4 trillion won to 2 trillion won (US$1.51 billion).
The Ministry of Economy and Finance explained that the increase in foreign aid is part of efforts to help South Korean companies go abroad, protect national interests, such as supply chains, and take responsibility as key global community members.
Background:
The South Korean Government selected the company to implement the project "creation of the master plan of the Smart City Uman, Ukraine", which will be implemented within the framework of the K-City Network programme.
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