OREANDA-NEWS. January 18, 2007. Ukraine and South Korea mean to step up trade-economic and investment cooperation, the press service of the Economy Ministry reported.

Relevant agreements were reached during a meeting of Economy Minister Bohdan Danylyshyn with South Korean Ambassador Hur Seung Chul.

During the meeting the Economy Minister said the Ukrainian -Korean Committee on Trade will be reformatted into an intergovernmental commission for trade-economic cooperation upon the two sides' consent.

Danylyshyn stressed that Ukraine is particularly interested in Korean investments in the sphere of energy, chemical industry, manufacture of modern construction materials and infrastructure development.

In November 2007 South Korea stated its intentions to allocate USD 2 billion of non-governmental funds for creating a modern Ukrainian-Korean lab for IT studies at the National Technical University "Kyiv Polytechnic Institute".