United to win: South Korea allocates $400 mln for Ukraine’s reconstruction and humanitarian needs

Next year, South Korea will provide financial assistance to Ukraine worth 520 billion won ($394 million).

Rubryka reports, referring to Reuters, that South Korea's financial report shows Seoul will provide Ukraine with an aid package in 2024, including $98 million for reconstruction and $196 million for humanitarian aid.

"The increase in overseas assistance is part of an effort to help South Korean companies branch out abroad and secure national interests, such as the supply chains, and to take responsibility as a key member of the global community," the Ministry of Economy and Finance said in the budget announcement.

Also, the South Korean government will provide $98 million through international organizations.

Aid from South Korea to Ukraine

South Korea is a major arms exporter. The country has so far ruled out sending lethal weapons to Ukraine, citing business ties with Russia and Moscow's influence over North Korea. However, according to CNN, South Korea provided non-lethal aid to Ukraine in early July, which is fighting against Russian aggression.

Also, in May, the Wall Street Journal reported that South Korea sent hundreds of thousands of projectiles to Ukraine.

In June, South Korean President Yoon Suk Yeol met with his Ukrainian counterpart Volodymyr Zelensky in Kyiv and agreed to provide a package of security, humanitarian, and reconstruction assistance within the Peace and Solidarity Initiative framework with Ukraine.