The South Korean company ITOXI Corp. and City One Development, represented by Valery Kodetsky, signed a memorandum of strategic partnership aimed at building glass plants in two cities of Ukraine. The agreement provides for the creation of production facilities in the industrial parks "City of Glass" (Berezan, Kyiv region) and "Galitsia" (Kalush, Ivano-Frankivsk region).

At the first stage of the project, it is planned to build two float glass plants. This step is considered strategically important for the introduction of advanced technologies in Ukraine, and will also contribute to the creation of new jobs and strengthening the country's position in the international market for high-quality glass.

The President of City One Development, Valery Kodetsky, emphasized the significance of this partnership for the Ukrainian economy, expressing confidence in its positive impact on the development of the country's industry.

ITOXI Corp. CEO Alex Cheon noted that working together with City One Development will open up new opportunities for investment and technological progress in Ukraine. He emphasized the company’s ambitious plans to set high standards in the production of glass materials in the local market.

The signed memorandum is only the first step towards the implementation of this strategic project. The parties are already actively working on agreeing on the terms of financial agreements, which precedes the acquisition of a stake in the project.

Ukraine, according to Alex Cheon, has significant potential for the development of the glass industry, and ITOXI Corp. is ready to actively invest its resources and technologies in this potential.

This proactive step will contribute to increasing the country’s production capacity and strengthen its position as a key producer of high-quality glass in the region.