Ukraine is turning to South Korea as a key partner in its massive postwar reconstruction push — and it wants Korean bullet trains on the tracks.
Oleksiy Kuleba, Ukraine’s deputy minister for reconstruction, visited Seoul last week to pitch South Korean manufacturers on supplying around 20 high-speed train sets. He met with executives from Woojin Industrial and Dawonsys, companies that have previously delivered rolling stock and rail systems across Asia.
The talks also focused on financing. Kuleba met with senior officials at the Export-Import Bank of Korea to explore funding options, including loans under the Economic Development Cooperation Fund (EDCF). Ukraine’s cabinet recently approved a draft request tied to the program.
“South Korean technology has proven its reliability. We want to bring that strength into Ukraine’s recovery,” Kuleba said, according to people familiar with the discussions.
Ukraine aims to modernize and expand its railway network as a backbone for rebuilding the economy and reconnecting cities damaged by Russia’s invasion. Securing financing is critical, as Ukraine faces limited fiscal capacity while the war continues. Any procurement would need to go through an open, competitive bidding process, in line with Kyiv’s commitments to transparency.
Whether the multi-billion-dollar rail investment can move forward depends heavily on the war’s trajectory. Even if tenders are issued, delivery and construction schedules could face delays amid ongoing security risks. For South Korean firms, however, the opportunity is significant: Ukraine’s reconstruction is projected to be one of the largest infrastructure undertakings in Europe this century.
