▲ A photo of the damage from Russian airstrikes released by President Zelenskyy on the 12th.
The Ukrainian government is reportedly pushing to leverage Japanese financial power and the technological expertise of major corporations to facilitate post-war recovery and industrial revitalization.
Yuliia Svyrydenko, Ukraine's First Deputy Prime Minister and Minister of Economy, told the Nikkei newspaper on June 23 that the Ukrainian government plans to establish an industrial revitalization fund with Japan worth tens of millions of dollars.
She added that details of this plan would be announced at the Ukraine Recovery Conference to be held in Poland on June 25.
"Ukrainian companies have approached Japanese firms to seek cooperation and have begun discussions regarding procurement conditions, including investments," she said.
Japanese companies mentioned as potential participants in Ukraine's reconstruction include Hitachi, Toshiba, and Mitsubishi Heavy Industries, which specialize in industrial equipment production and infrastructure construction. They are expected to participate in the restoration of Ukraine's energy facilities and public-private infrastructure, which have been heavily destroyed by Russia.
Nikkei estimated that the total damage to Ukraine's production facilities caused by Russia exceeds $10 billion (approximately 15.4 trillion won).
The newspaper identified energy modernization, such as power grids, transportation infrastructure, mineral resources, green technology, and agricultural processing as areas with significant potential for cooperation with Japan.
Ukraine is reportedly planning to request subsidies and long-term loans for industrial revitalization from Japanese state-run institutions, including the Japan Bank for International Cooperation (JBIC) and the Japan International Cooperation Agency (JICA).
Ukraine is also set to launch the "Ukraine Flagship Fund," a private equity fund established to support economic reconstruction and EU accession. The EU, France, Germany, Italy, and Poland are expected to invest in areas such as the development of Ukraine's mineral resources through this fund.
Minister Svyrydenko projected that the fund could reach $1 billion (approximately 1.5 trillion won) within the next few years, adding, "We are considering setting up a fund that would allow for contributions from Japan and Gulf nations in the Middle East."
Nikkei reported that alongside economic reconstruction, Ukraine is embarking on large-scale privatization, facility modernization, and governance improvements. The report noted that the Odessa Port Plant, a major chemical and fertilizer company in the southern Odessa region, and titanium mining companies in the east are being discussed as potential targets for sale.
(Photo: President Zelenskyy's social media, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.