Ukraine and South Korea join forces to lay out the glass manufacturing industry!

City One Development of Ukraine has signed a long-term memorandum of understanding (MOU) with ITOXI, a South Korean diversified investment company, marking the establishment of a strategic partnership between the two companies to jointly advance glass production projects in Ukraine.

Valery Kojetsky, President of the City One Development Group, said in a press release: "We are pleased to have been able to successfully introduce foreign partners from friendly countries. The signing of this agreement is only the first step towards realizing our common vision, and we are confident that this partnership will make an important contribution to the development of the Ukrainian economy. ”

The memorandum of cooperation was signed in April 2025 during the visit of the South Korean delegation to Ukraine. The memorandum specifies that the first stage of the project will be the construction of two glass production plants in the "Misto Skla" industrial park in the city of Berezan in the Kyiv region and the "Halychyna" industrial park in the city of Kalush, Ivano-Frankivsk region. The project is seen as a key step in introducing modern technology, creating jobs and increasing Ukraine's capacity to manufacture high-quality glass.

Alex Cheon, CEO of ITOXI, said: "We are confident that this partnership will open up new prospects for investment and technological advancement. Ukraine has great potential, and we are proud to be a part of this ambitious plan. The signing of the memorandum of understanding is an important step in confirming our willingness to invest in the field of the glass industry in Ukraine. We are currently moving forward with an agreement to take a stake in the project. ”

As early as 2022, at the beginning of the full-scale outbreak of the Russia-Ukraine conflict, City One Development started the project to build the first float glass factory in Berezan. The plant is designed to produce 600 tonnes of glass per day with a total investment of US$140 million and is located in the Misto Skra Industrial Park. At the end of 2024, the company started the construction of a second glass plant in the Halychyna Industrial Park.

The first plant is expected to start production in 2027 and the second plant will be completed and put into operation in 2028.