Chairman Jeong-woo Choi: Strengthening bilateral solidarity and supporting Ukraine’s reconstruction with the Group’s collective strength
March marks the launch of a Ukraine reconstruction TF in the Group, engaging in five key sectors Including steel, food and infrastructure.
POSCO Group Chairman Jeong-woo Choi, met with a delegation of Ukrainian lawmakers on October 6 at the POSCO Center in Seoul to discuss potential cooperation in Ukraine’s reconstruction projects.
The Ukrainian lawmakers, Andrii Nikolaienko and Serhii Taruta, were invited by the Korea-Ukraine Parliamentary Friendship Association. They visited the POSCO Center as part of their corporate visit schedule to discuss pre- and post-reconstruction project matters. Ukrainian Ambassador to Korea Dmytro Ponomarenko also attended the meeting.
On that day, Chairman Choi said, “The South Korean government has a strong determination to support the reconstruction projects in Ukraine, and Korean companies, including POSCO Group, are actively involved. This strengthens the partnership between our two nations.” He added, “We will unify all of POSCO Group’s resources to actively engage in the reconstruction project at the same time as the end of the war.”
In response, lawmaker Andrii Nikolaienko said, “I consider POSCO Group to be the perfect partner in rebuilding Ukraine, which has been damaged by the war, and in the broader endeavor of building a new Ukraine.” He added, “I will actively assist POSCO Group in facilitating the Ukrainian government’s support and make concerted efforts to ensure that our mutual cooperation leads to successful outcomes.”
POSCO Group initiated the Ukraine Reconstruction Task Force (TF) In March of this year. The Group is actively pursuing involvement in reconstruction projects in five key areas: steel, food, Rechargeable battery materials, energy, and infrastructure, with a focus on humanitarian cooperation through educational support for future generations.
In the steel sector, POSCO Group is exploring various areas of collaboration, including energy generation for steel production and eco-friendly refining through Ukraine’s Steel Reconstruction Program, while in the food sector, POSCO International is steadily increasing sales of grain terminals operated in Mykolaiv, Ukraine since 2019. It is also assessing potential cooperative ventures with local companies in the fields of Rechargeable battery materials and energy.
Regarding infrastructure projects, POSCO Group plans to work with both governments to explore ways to utilize steel modular housing, which can dramatically reduce construction times in reconstruction efforts.
Modular construction, an innovative construction method, involves pre-fabricating 70-80% of a project in a factory before swift on-site assembly. This method has the potential to reduce construction times by up to 60% and has the added benefits of reusability and recyclability. The Ukrainian delegation visited Gwangyang the day after their meeting and looked at a 12-story high-rise building, Gwangyang Gigatown (a dormitory for POSCO employees), built using modular construction techniques.
Meanwhile, POSCO Group is making efforts to support the education environment for future generations in Ukraine, which is suffering from the prolonged war. Through the Global Young Leaders Program, POSCO Group is providing outstanding university students in Ukraine with the opportunity to participate in a one-year exchange program at POSTECH.