Jeong Tak, vice chairman of POSCO International, visited Ukraine from Nov. 13 to 15 and signed a memorandum of understanding (MOU) with Vitalii Kim, governor of Mykolaiv Oblast, for the establishment of a “steel modular manufacturing facility.”
The modular manufacturing facility is planned to be established in Mykolaiv Oblast in the southern part of Ukraine. Mykolaiv Oblast is home to the only domestic investment asset of POSCO International within Ukraine, the grain terminal. Additionally, the fact that Governor Vitalii Kim is of Korean descent and a promising local politician brightens the prospects for this project.
During his visit, Vice Chairman Jung continued discussions on the export of Ukrainian grain and the utilization of the grain terminal, which are facing difficulties due to a maritime blockade, with Vicor Ivanchyk, CEO of the local agricultural company Astarta. Discussions also extended to the expansion of the grain sector’s value chain post-war.
Earlier, Vice Chairman Jung met key government figures in Kyiv, including Prime Minister Denys Shmyhal; Rostyslav Shurma, deputy head of the Presidential Office (overseeing economics and industry); and Deputy Minister of Reconstruction Yurii Vaskov. They exchanged extensive opinions on reconstruction projects.
At the meeting, Vice Chairman Jung expressed POSCO Group’s intention to converge all its capacities in steel, energy, construction, IT, etc., to participate in Ukraine’s reconstruction projects. He also requested support from the central government for the newly initiated modular business venture.