Turkish companies will sign the future of Ukraine, whose infrastructure has suffered billions of dollars in damage due to the Russian invasion.

The world-famous Samsung and Ukraine’s largest construction company Onur Grup made the first big deal. The two companies will both implement the smart city application and work together for the infrastructure of the country. The agreement will also expand to Eastern and Central Europe in the future.

Last week, Ukraine hosted a sudden and important name. South Korean President Yoon Suk-yeol, who went to Lithuania for the NATO Leaders’ Summit and then held important talks in Poland, went to Kiev unscheduled with a large delegation accompanying him.

Meeting with Ukrainian President Volodymyr Zelensykiy, the Korean President announced that this year they plan to provide ‘more extensive military equipment, and 150 million dollars in humanitarian aid. This visit, which would contribute to the reconstruction process of Ukraine, which was occupied by the Kremlin Regime for more than 500 days, was very meaningful for Korea.

Because South Korea, which was almost devastated by the invasion of Moscow-backed North Korea in the early 1950s, experienced a similar process 70 years ago and had a successful restructuring process. The similar occupation of Ukraine was also meaningful for the South Korean leader. Another development that made the trip interesting, in which South Korean government officials as well as world-renowned companies making billion-dollar projects were present, was about Turkey.

Onur ?n?aat, the largest construction company in Ukraine and the most important employer in the country, signed 2 important agreements with the South Korean giant Samsung. The agreement of Onur ?n?aat and Samsung, which continued its activities in Ukraine during the war period and carried out rapid reconstruction work in the cities attacked by the Russian forces, will also significantly affect the Turkish presence in the country.

 

It has a turnover of 34 billion dollars

The first agreement of Samsung Engineering & Construction, owned by the Korean giant with an annual turnover of 34 billion dollars, was signed between Lviv Municipality, the cultural capital of the country, and Onur Group. On the creation of a smart city in this protocol. The second agreement was a comprehensive agreement in areas such as energy, infrastructure and housing.

The agreement was signed in the presence of Ho-In Kang, South Korean Minister of Land, Infrastructure and Transport, and alongside the CEOs and Chairman of the Board of Directors of the two companies. In his statement, the South Korean Minister said, “We became brothers with Turkey in 1953. We will strengthen our ties with Turkey, which was with us in the Korean War, in Ukraine as well. With the presence of a Turkish company, Ukraine has become our brother. We will develop together,” he said.

The agreement will also cover Europe

South Korea will contribute $8 billion to Ukraine to reduce the damage caused by the Russian occupation. This agreement with Samsung is also very important in terms of moving forward together. This cooperation, which will pave the way for new collaborations of other South Korean and Turkish companies in Ukraine, will also include other countries of the continent. Samsung and Onur Group will also pave the way for acting together in Eastern and Central Europe.

I asked Burak Pehlivan, the President of the Turkey-Ukraine Businessmen Association (TUID), about the impact of the agreement. Stating that Onur Group works in Ukraine, except construction, in fields such as paper and construction materials, Pehlivan said, “Despite the war, more than 700 Turkish companies still operate in Ukraine. Our total investment amount exceeds 4.5 billion dollars. We are in the position of the largest foreign capital with the investments made. Our exports, together with our production, are increasing. Collaboration with Samsung will make Turkey’s power more palpable,” he said.