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South Korea pledges $2.3 billion in aid for Ukraine

by Asami Terajima September 10, 2023 2:13 PM 2 min read
South Korean President Yoon Suk Yeol delivers remarks during a joint news conference with U.S. President Joe Biden and Japanese Prime Minister Kishida Fumio following three-way talks at Camp David on August 18, 2023. (Photo by Chip Somodevilla/Getty Images)
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South Korean President Yoon Suk Yeol pledged $2.3 billion in aid for Ukraine to help the country rebuild itself and provide humanitarian support to those in need amid Russia's ongoing full-scale war, Seoul-based news agency Yonhap reported on Sept. 10.

South Korea will provide the first $300 million as humanitarian aid in 2024, and the rest will be given to Ukraine as long-term, low-interest loans through the country's aid fund, Economic Development Cooperation Fund (EDCF), according to Yonhap.

"This will demonstrate our responsible role as a global pivotal state in leading assistance for the restoration of peace in Ukraine and lay the foundation for our full-fledged participation in Ukraine's future reconstruction," an unnamed presidential official told Yonhap.

In July, Yoon visited Kyiv for the first time to meet his Ukrainian counterpart Volodymyr Zelensky.

During the visit, Yoon, whose country's policy bans the export of arms to a country at war, said that Seoul would “expand the scale of (non-lethal military) supplies from last year, when we provided materials such as helmets and bullet-proof vests." He also announced a $150 million humanitarian aid for 2023 at a press conference with Zelensky.

According to a Wall Street Journal report published in May, South Korea, the eighth largest arms exporter worldwide, is transferring hundreds of thousands of artillery rounds to Ukraine through the U.S. under a confidential agreement.

Neither Seoul nor the White House responded to a request for comment from the WSJ.

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