Ukraine, Poland Ask for Korea’s Investment to Aid Their Economic Growth, Defense against Russia

Senior members of the Ukrainian and Polish governments asked Korean Minister of Land, Infrastructure, and Transport Won Hee-ryong to make investment in the Three Seas Initiative (3SI) during Won’s visit to Poland to discuss Korea’s participation in Ukraine’s reconstruction project.

The 3SI envision the connection of 12 countries surrounded by three seas -- the Adriatic, Baltic, and Black Seas -- by railways, roads, and ports to pursue common economic development, while keeping Russia in check in terms of transportation and traffic.

Polish Minister of Infrastructure and Construction Andrzej Adamczyk and Deputy Minister of Infrastructure of Ukraine Oleksandra Azarkina requested Korean government and companies to have an interest in the 3SI in a meeting with Won in Warsaw on May 23 (local time).

The 3SI has 12 member countries, including Poland, Austria, Hungary, Croatia, Romania, Latvia, and Estonia. The project was started to make up for lagging development under the Soviet Union’s influence.

While Western European countries developed together by connecting roads, railroads, and oil and gas pipelines, Eastern European countries were left behind due to poor transportation and logistics networks between them.

Under these circumstances, Poland and Croatia have been promoting joint development of energy, transportation, logistics, and digital infrastructure. The United States has committed to investing US$1 billion in the project.

After Russia’s invasion of Ukraine, it also means creating a transportation blockade against Russia. The idea is to build a comprehensive rail, road, and port transportation network that connects all Eastern European countries except Russia and Belarus, and to counter Russia through common projects.

On the same day, Minister Won signed a memorandum of understanding (MOU) on expanding cooperation in reconstruction projects with his Ukrainian counterpart Azarkina.

“Ukraine and Poland strongly requested the Korean government’s and companies’ advice and investment in the 3SI,” Won said, “Ukraine needs not only grain but building materials and raw materials to win the war with Russia.”

Ukraine also asked for South Korea’s cooperation in facilitating grain exports. It wants South Korea, a shipping and shipbuilding powerhouse, to help Ukraine in securing free navigation rights at the International Maritime Organization. Russia’s threat has disrupted Ukraine’s grain exports through the Black Sea, causing Ukraine’s economic difficulties and hampering the country securing reconstruction funds.

Won said that the Ukrainian government cited the supply of energy including electricity and the restoration of destroyed roads as urgent tasks.