Authorities in Ukraine's Chernivtsi region have signed a memorandum of cooperation with representatives of the Republic of Korea, including plans to attract South Korean investment for the Smart Village project.
Ruslan Osypenko, head of the Chernivtsi Regional Military Administration, announced this.
According to him, a delegation from the Republic of Korea, led by Yang Gu Lee, President of the Korea-Ukraine New Building Association (KUNBA), became interested in the investment potential of the Chernivtsi region during the Ukraine Recovery Conference held in Gdańsk, Poland, on June 25–26.
“We immediately agreed to continue our dialogue in Bukovyna. During the official meeting at the Chernivtsi Regional Military Administration, we first discussed the possibility of launching joint projects in the areas of veterans' policy, social protection, healthcare, and support for children deprived of parental care. We also focused on implementing the Smart Village project, which envisages attracting investment from the Republic of Korea to introduce modern digital technologies, energy-efficient solutions, infrastructure development, healthcare, education, and innovative agriculture in rural communities,” the statement said.
According to Osypenko, the Republic of Korea already has successful experience in implementing similar initiatives, and its expertise and best practices will be valuable for the region.
To move from discussions to practical implementation, the parties signed a bilateral Memorandum of Cooperation between the Chernivtsi Regional Military Administration and the Korea-Ukraine New Building Association (KUNBA).
The parties also agreed to establish a joint working group that will develop a roadmap for cooperation, identify priority projects, and determine mechanisms for their implementation.
