The government is entering into follow-up work to pursue the joint development of lithium mines proposed by Ukrainian President Volodymyr Zelensky.
During a meeting with the Ministry of Land, Infrastructure, and Transport (MOLIT) press corps on Sept. 18, Minister Won Hee-ryong said, “President Zelensky made a specific proposal regarding the development of lithium mines in Ukraine. Among the four lithium mines in Ukraine, two in the central region are being developed by the United States, and it would be favorable if South Korea could develop the remaining one.” The remaining lithium mine is located close to the conflict zone in eastern Donetsk, posing safety concerns.
Minister Won established a public-private cooperation team along with 18 public and private enterprises, including Samsung C&T, Hyundai Engineering & Construction, Hyundai Rotem, and the Korea Water Resources Corporation, and met with President Zelensky in Kyiv, the capital of Ukraine, on Sept. 13.
For the joint development of the lithium mine proposed by President Zelensky, it is necessary to undergo a government feasibility study and other related assessments.
Minister Won stated, “In early October, Ukrainian parliamentarians are planning to visit South Korea for further discussions, and we intend to dispatch a local research team to proceed with the investigation.”
Prefacing his statement as a personal opinion, Minister Won said, “If South Korea can develop a lithium source that can be used for the next 100 years and secure around 40 percent ownership in the mine, there is a possibility of exchanging ownership and the reconstruction fee for a long-term fixed-price supply agreement.”
He also disclosed plans to strengthen cooperation, emphasizing that South Korea could play a “bearing role” in Ukraine’s reconstruction. Minister Won stated, “South Korea has expertise in nuclear power, defense, energy, shipbuilding, construction, and manufacturing, so Ukraine can have a one-stop discussion with us for everything. It is possible to achieve ‘total’ economic cooperation.”