Korea's Posco plans to reopen grain terminal in Mykolaiv

The Posco grain terminal was opened in the port of Mykolaiv in 2019, photo by NikVesti

Posco International Corporation is working to resume operations at its grain terminal in Mykolaiv. This was discussed during a meeting at the Ministry of Infrastructure with its head Oleksii Soboliev, the Ministry of Economy reports.

The participants discussed the need to launch a grain terminal in Mykolaiv region. It should be noted that in 2019, Korea's Posco implemented its investment project with Orexim Group in the port of Mykolaiv. In February 2019, the company acquired a 75% stake in the grain terminal in Mykolaiv.

«The development of infrastructure for storing grain and vegetable products (storage facilities and cold storage) is an important area for Ukraine, which is one of the largest exporters of grain and agricultural products in the world. The Ukrainian side stressed the need to develop mechanisms to protect business in times of war and reduce the cost of marine insurance. At the same time, the Government is working on a support programme to restore trade routes in Mykolaiv region», the Ministry said in a statement following the meeting.

The Ministry of Economy met with representatives of Posco, which owns a grain terminal in Mykolaiv, photo by the Ministry's press service

The event was attended by Kim Yong-hyun, CEO of Posco International Ukraine, Vice President of Posco International Corporation, and AN Suhyun, Sales Director of Posco International Ukraine.

Posco International (headquartered in Seoul) is one of the largest Korean trading corporations, the trading division of the South Korean steel conglomerate POSCO. It develops its business in three main segments: international trade, raw materials development and project management.

Earlier it was reported that South Korean trader Posco International, which owns a grain terminal in Mykolaiv, said it intends to participate in Ukraine's post-war reconstruction projects.