During the summit meeting between President Yoon Seok-yeol and UAE President Mohammed bin Zayed Al Nahyan, the UAE decided to invest 30 billion dollars (regarding 40 trillion won) in Korea, said Kim Eun-hye, senior secretary for public relations at the Presidential Office, in a written briefing on the 15th (local time). delivered through
President Mohammed told President Yoon, “I decided to invest 30 billion dollars out of trust in the Republic of Korea, which keeps its promises under any circumstances,” Kim explained.
President Mohammed said, “I am deeply impressed by Korean companies that fulfill contracts no matter what difficulties there are, such as COVID-19.”
In response, President Yoon replied, “As the president, I will take care of this investment carefully so that this investment can play a big role in not only investment returns but also the sustainable mid- to long-term development of the UAE.”
Chief Kim said that the investment that President Yoon drew from the UAE during this state visit would be equally invested in strategic cooperation areas between the two countries, such as nuclear power, defense, hydrogen and solar energy.
President Yoon, who is on a state visit to the UAE at the invitation of UAE President Mohammed, had a summit meeting with President Mohammed at the Presidential Palace (Qasr Al Watan) that day.
At the outdoor official welcome ceremony held prior to the summit, President Mohammed, key UAE officials and federal government ministers attended, and there was a special hospitality from the UAE, including cavalry escorts, salute firing (21 shots), and an air show by the UAE Air Force Aerobatic Demonstration Team.
Following the official welcome ceremony, President Yoon and President Mohammed held a summit meeting in the order of expanded talks and individual talks, and agreed to develop the ‘Special Strategic Partnership’ between Korea and the UAE to the highest level.
President Yoon said, “I am delighted to visit the UAE on my first tour in 2023 and have a meeting with President Mohammed. did.
In addition, “Through this summit, Korea and the UAE will further strengthen strategic cooperation not only in the four key fields of cooperation, such as nuclear cooperation, energy, investment, and defense, but also in future fields of cooperation, such as new industries, health and medical care, and cultural and people-to-people exchanges. We hope that it will be an important starting point to develop the ‘special strategic partnership’ to the highest level.”
President Mohammed actively sympathized with this and said, “I am very pleased that he visited the UAE as the first state guest following taking office, and I strongly hope to further develop our strategic partnership with Korea.”
In particular, President Mohammed said, “The UAE is seeking cooperation with Korea in all fields, including the peaceful use of nuclear energy, renewable energy, hydrogen, defense technology, climate change, space, digital transformation, advanced infrastructure, smart agriculture, food security, and water resources. We are ready to expand dramatically.”
President Yoon invited President Mohammed to visit Korea at a convenient time during the year, and President Mohammed replied that he would visit Korea soon with a happy heart, saying that Korea was already his ‘second home’ in his heart.
Immediately following the Korea-UAE expansion meeting, a memorandum of understanding (MOU) signing ceremony was held in the presence of the heads of both countries.
A number of memorandums of understanding and contracts were signed between the two countries on the occasion of President Yoon’s state visit. On the occasion of the meeting, a total of 13 documents were signed in the presence of the heads of state of the two countries, especially in the fields of nuclear power, energy, investment, defense industry, and climate change.
Meanwhile, following the Korea-UAE summit, President Yun and First Lady Kim Kun-hee attended a state luncheon hosted by President Mohammed.
The UAE prepared a rich and varied luncheon menu, including camel meat, which is said to be served only to the best VIPs, and President Yoon expressed his gratitude for the hospitality of the UAE.
President Mohammed said, “Although the UAE and Korea are geographically far apart, the culture and customs of valuing family, respecting elders, and welcoming guests are very similar.” conveyed meaning.
In addition to figures from the Korean government, this state luncheon was attended by a large number of figures from the Korean economy, including the chairman of Samsung Electronics, the chairman of Hyundai Motor Company, the chairman of the Korea Chamber of Commerce and Industry (SK chairman), the president of HD Hyundai, the president of GS Energy, the chairman of Ssangyong E&C, the chairman of Hyosung, and the CEO of Naver ESG. Provided comprehensive support for Korean companies entering the UAE.
