South Korea to Fund Purchase of Hyundai Trains for Ukraine.

The "Ukrzaliznytsia" company reported that the Framework Agreement between the government of Ukraine and the government of the Republic of Korea regarding loans from the Economic Development and Cooperation Fund, valid for 2024-2029, was ratified by the Verkhovna Rada of Ukraine.

With the ratification of the agreement, the possibility of financing projects important for the Ukrainian economy opens up, particularly the program for expanding the rolling stock of Ukrzaliznytsia - the purchase of 20 Intercity+ class electric trains. This program has already received positive feedback from experts of the Korean Economic Development and Cooperation Fund. The next steps will include clarifying project and agreement details at the Cabinet of Ministers of Ukraine level, as well as signing the final agreement.

"This is a strategic program to expand the Intercity+ train fleet, which will allow us to increase the frequency on existing routes and open new high-speed routes. This will enable the transportation of 6 million passengers a year, meeting the modern requirements of high-speed travel. I thank the parliamentarians for the ratification and continue to work with government officials on signing the agreement," said the Chairman of the Board of JSC "Ukrzaliznytsia" Yevhen Liaschenko.

The total cost of the program is approximately $450 million, including train service maintenance for 5 years. The delivery of trains is possible within 18-24 months after signing the agreement. Korean manufacturers also explored the possibility of localizing production in Ukraine, which is important for stimulating the national economy. Loan terms from the Economic Development and Cooperation Fund are provided with significant benefits, considering the social significance of the project (total term - up to 40 years, main amount payment starts after 10 years).

Additionally, Ukrzaliznytsia will focus on modernizing the existing rolling stock and continuing the state investment program for building new trains for long-distance routes. This will make passenger logistics more accessible and convenient for millions of Ukrainians in the near future and will contribute to the development of the regions of Ukraine.