The agreement cements a new partnership between the U.K.’s Department for Business and Trade (DBT) and the Korean Overseas Infrastructure & Urban Development Corporation (KIND)
In a milestone move for international cooperation, the United Kingdom (U.K.) and the Republic of Korea have signed a first-of-its-kind Memorandum of Understanding (MoU) to collaborate on reconstruction efforts in Ukraine and jointly develop global infrastructure projects.
The agreement, signed in London at the historic Old Admiralty Building, cements a new partnership between the U.K.’s Department for Business and Trade (DBT) and the Korean Overseas Infrastructure & Urban Development Corporation (KIND). The agreement was signed by the Business and Trade Minister, U.K. – Gareth Thomas and the CEO of KIND – Bok Hwan Kim.
Established in 2018, KIND plays a pivotal role in supporting Korean companies to develop and execute global infrastructure projects. The U.K., through its Third Country Cooperation (TCC) model, works with like-minded partners to deliver sustainable, high-quality infrastructure in emerging markets.
Speaking on the occasion, Thomas said, “This agreement is the first of its kind and strengthens our relationship with the Republic of Korea. As part of our Plan for Change it will secure vital opportunities for UK businesses to work with KIND and South Korean companies in overseas infrastructure and deepen our commitment to supporting Ukrainian reconstruction efforts.”
Sharing his thoughts, Bok Hwan KIM, said, “This Memorandum of Understanding with the UK government marks a historic moment that elevates infrastructure cooperation between Korea and the United Kingdom to a new level. KIND is delighted to contribute to Ukraine’s reconstruction and sustainable infrastructure development worldwide through this partnership. By combining our countries’ expertise and technological capabilities, we can make a tangible impact across various sectors, from critical infrastructure repairs to clean energy and smart cities. This collaboration goes beyond business opportunities—it represents our joint response to global challenges, and we are honored to embark on this important journey alongside British companies.”
This strategic partnership aims to unlock opportunities for British and South Korean businesses across critical sectors, including sustainable transport, healthcare infrastructure, smart cities, clean energy, water and waste management and cutting-edge infrastructure technologies. A key focus of the MoU is Ukraine, where urgent repairs to housing, hospitals, and power systems are needed to restore essential services and rebuild resilience in the face of ongoing conflict.
The MoU builds on the U.K.’s broader international commitments. It reinforces the vision laid out in the 2023 Downing Street Accord, underpinned by £16.3 billion in bilateral trade between the UK and South Korea. It also aligns with the U.K.’s Free Trade Agreement with Korea, which is currently being upgraded to deepen economic ties. Additionally, the agreement complements the U.K.’s 100-Year Partnership with Ukraine, under which the Government has provided £5 billion in non-military assistance, prioritizing reconstruction and recovery efforts.
According to the World Bank’s latest Rapid Damage and Needs Assessment (RDNA4), Ukraine’s total reconstruction needs stand at $524 billion over the next decade, equivalent to nearly 2.8 times its estimated 2024 GDP. The U.K. and South Korea’s coordinated approach aims to address this staggering need by leveraging their complementary strengths, i.e., South Korea’s globally recognized project delivery capabilities and the U.K.’s leadership in engineering, finance and innovation.
While Ukraine is a priority under this MoU, the agreement also opens the door to joint initiatives in other developing regions, broadening the scope of U.K.-South Korea cooperation on the global stage.
