Head of the Asset Recovery and Management Agency (ARMA) Olena Duma and Deputy Head Grigol Katamadze met with representatives of the Ukrainian-Korean Business Council (UKBC) and the Ukrainian branch of the Korean company ITOXI.

The meeting was attended by Roman Hryhoryshyn, Head of the Ukrainian-Korean Business Council, Vadym Kirov, Head of the UKBC Secretariat, and Ralph Kang, Vice President of ITOXI Corp. This company specializes in strengthening business and economic cooperation between Ukraine and Korea. The key topic of the meeting was the role of seized assets in rebuilding Ukraine through effective management.  

The Head of ARMA expressed interest in engaging foreign companies in the management of seized assets. “Restoring Ukraine remains a priority for many government agencies. ARMA is open and ready to work on attracting foreign investment to Ukraine. We ensure full transparency of the processes, as evidenced by public access to the register of seized assets. In addition, all procedures for selecting managers are carried out according to the most transparent rules, and the sale of seized assets is carried out exclusively through the online auction platform Prozorro.Prodazhi, which guarantees fair competition and equal conditions for all participants,” said Olena Duma.

She also added that, according to the ARMA law, foreigners have the right to participate in asset management competitions. In addition, ARMA has already applied to the Ministry of Economy of Ukraine for clarification on the need to open a representative office of a foreign legal entity in Ukraine: before the tender or after it is held.

Grigol Katamadze added: “Our goal is to create a transparent and efficient system of managing seized assets that will be attractive to international partners. This will not only contribute to Ukraine's recovery, but will also strengthen confidence in our country at the global level.”

The Korean representatives showed particular interest in seized assets that could be used in the process of rebuilding Ukraine, including construction companies. They added that they plan to familiarize themselves with the available assets in the Register of Seized Assets.

The Head of ARMA also informed the guests about an important legislative initiative of the National Agency - Draft Law No. 11280-1 on the management of corporate rights of the Russian Federation and Belarus. “This draft law will allow us to effectively manage such assets without obtaining the consent of representatives of the aggressor state, which is critically important for the economic security of Ukraine,” emphasized Olena Duma.

ARMA continues to work on creating favorable conditions for attracting foreign investors and managers, which will facilitate the effective use of seized assets for the benefit of the Ukrainian economy and the country's reconstruction.