Ties between Korea and the United Arab Emirates have made considerable progress since 2009, when Korea won a landmark deal to build nuclear power plants in the Middle Eastern country. To expand the scope of bilateral cooperation even further, the two countries recently held a joint investment forum in Seoul.
At the forum, UAE delegates had a chance to discuss promising partnerships with potential Korean investors. They explained the country's plans to upgrade its industrial base, diversify its energy resources, facilitate partnerships in the financial sector, and build infrastructure. Korea's presentations focused on major regional development projects and there were also investor relations sessions.
"Each country has its own challenges that need to be addressed," Vice Minister for Trade and Energy Kim Junggwan told the UAE delegates. "If we work together to develop future growth engines such as the green industries, we can form a strategic alliance." On the same day, Minister of Knowledge Economy Choi Joong-Kyung met privately with UAE Chairman of the Department of Economic Development Nasser Bin Ahmed Khalifa Al Sowaidi. Minister Choi said he hoped to generate more interest among UAE investors in business partnerships with Korean companies.
