Ukraine has secured a $100 million loan from South Korea for the first time.

Ukraine has received preferential financing of $100 million from South Korea for the first time.

Prime Minister Denys Shmyhal announced this news.

"This is the first budgetary assistance from our Korean partners, which will be directed towards supporting the social sector," he noted.

Shmyhal also clarified that this year an agreement was signed between the parties that will allow for the attraction of up to $2.1 billion.

Recall that on October 2, Ukraine's Finance Minister Serhiy Marchenko and the Export-Import Bank of South Korea signed a loan agreement for the acquisition of $100 million.

It is noted that Ukraine may receive loans from Korea amounting to up to $2.1 billion during the period of 2024–2029. This possibility is ensured by an agreement signed between the governments of Ukraine and the Republic of Korea in April 2024.

It is specified that the loan is provided for 20 years with an interest rate of 1% per annum. At the same time, the grace period lasts for 5 years from the date of signing the loan agreement.

Background. Earlier, Mind reported that Umerov will be requesting weapons from South Korea.