DEVELOPMENT EXPERIENCE OF THE REPUBLIC OF KOREA AND ITS BENEFIT FOR UKRAINE

Lecture by the Ambassador of the Republic of Korea to Ukraine Mr. Kim Hyung-tae at the Institute for Economics and Forecasting of the NAS of Ukraine, March 2, 2023

Abstract

On March 2, 2023, a meeting of leading economists of Ukraine with the Ambassador of the Republic of Korea to Ukraine Mr. Kim Hyung-tae was held at the Institute for Economics and Forecasting of the NAS of Ukraine. Mr. Ambassador expressed full support of the Korean government and the Korean people for Ukraine in its war against the Russian Federation.

In the lecture, he focused on the history of the Republic of Korea with an emphasis on its development path over the past 70 years after the end of the Korean War of 1950––1953. Mr. Ambassador singled out three main tasks, namely the creation of material base for production; its renewal with the aid of latest information technologies; development and promotion, based on a strong material foundation, of its culture (a phenomenon known as the Korean Wave or Hallyu), the implementation of which led to the transformation of Korea into a prosperous democratic nation.

Mr. Ambassador emphasized the strengths of Ukraine. These are historically hardened strong national character and a power of national unity, which was strengthened by the war. An unquestionable advantage of Ukraine is also its great potential. For its fullest realization, it is necessary to focus, taking into account the experience of Korea, on the following four points: 1) the formation of a broad vision of national development and its consistent implementation; 2) the development of professional, efficient and creative bureaucratic apparatus; 3) the creation of favorable environment for business; 4) training of qualified personnel.

The Ambassador of the Republic of Korea to Ukraine Mr. Kim Hyung-tae assured that Korea will support Ukraine in its development and willingly share its experience and lessons.