South Korea joins Multi-agency Donor Coordination Platform for Ukraine

That's according to the presidential office, Ukrinform reports, citing Yonhap.

The Multi-agency Donor Coordination Platform for Ukraine (MDCP) was established last year, led by the Group of Seven (G7) nations and involving other donor countries, the European Commission, Ukraine and international financial institutions.

South Korea joined the platform during an MDCP steering committee meeting Wednesday, along with the Netherlands, Norway and Sweden, the presidential office said in a press release.

"By joining the MDCP, we will not only work closely with key nations of the international community, including the G7, but also continue to make efforts so that our experience of overcoming the wounds of war and defending liberal democracy and the market economy can contribute to Ukraine's peaceful and democratic reconstruction and recovery," the office said.

"By directly participating in consultations among key donor nations, we expect to directly learn in more detail developments and trends in Ukraine's reconstruction and recovery process and further expand our businesses' participation opportunities," it added.

Members of the MDCP are democratic nations that have donated or committed $1 billion to Ukraine.

South Korea has provided a package of assistance to Ukraine, including under the "Ukraine Peace and Solidarity Initiative" announced during President Yoon Suk Yeol's visit to Kyiv last July and through $300 million committed this year and an additional $2 billion over the mid- to long-term.

South Korea will provide $300 million in aid to Ukraine this year and plans to transfer another $2 billion in the following years.

Photo: Yonhap