Ukrainian real estate and infrastructure company City One Development has announced the signing of a memorandum of long-term cooperation with South Korea’s diversified investment firm ITOXI Corp., according to the company’s press service.
Valerii Kodetskyi, President of City One Development Group, emphasized that the agreement marks only the first step toward the long-term realization of joint plans and that the partnership will contribute significantly to Ukraine’s economic development.
The memorandum, signed in April 2025 during an official Korean delegation visit to Ukraine, outlines the construction of two float glass manufacturing plants during the first phase of the project. The facilities will be located within the industrial parks “Misto Skla” (Glass City) in Berezan, Kyiv region, and “Halychyna” in Kalush, Ivano-Frankivsk region.
City One Development launched construction of its first float glass plant in Berezan at the onset of Russia’s full-scale invasion in 2022. The plant, part of the “Misto Skla” industrial park, is designed to produce 600 tons of float glass per day and represents a total investment of $140 million. Construction of the second facility, under the “Halychyna” industrial park, began in late 2024.
Commissioning of the Berezan plant is scheduled for 2027, while the Kalush facility is expected to be operational in 2028.
ITOXI Corp. is a leading South Korean investment group with a diversified portfolio ranging from video games and medical equipment to large-scale international infrastructure projects. In November 2023, ITOXI UA was established with a statutory capital of UAH 8.7 million. The joint venture is co-owned by ITOXI Corp. (51%) and Roman Hryhoryshyn (49%). ITOXI UA serves as a B2B commercial platform connecting Ukrainian businesses with Korean partners.
