The Hyundai Corporation (South Korea) is ready to propose a comprehensive program for upgrading urban transport and improving infrastructure to Ukraine. Chung Il Jong, the head of the Ukrainian representative office of the Intercorporation company, which is in charge of the Hyundai entire group of companies’ foreign operations, announced this at the international forum "Korea-Ukraine Economic Cooperation." This company supplied 10 Hyundai high-speed trains to Ukraine, the publication reports.

According to him, the company plans to expand the range of its operations in in Ukraine through implementation of two potential projects: creation of capacities for production of high-speed electric trains and locomotives together with Ukrainian partners and provision of comprehensive solutions for modernization of urban transport and improvement of infrastructure with "partial localization and provision of full technical service."

The company is considering the possibility of the Korean Export-Import Bank and the BCF Economic Cooperation Fund financing these projects under guarantees from the Ukrainian government.

According to Chung Il Jong, it is necessary to create a production scheme with reliable Ukrainian partners, which is why Korean experts came to Ukraine at the end of May to study the state of the existing urban transport fleets and infrastructure and to hold a number of meetings with potential partners.

According to him, it is very important for the projects to be discussed at the highest government level and a working group that includes representatives of both countries will be established to implement them.

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