President His Highness Sheikh Mohamed Bin Zayed Al Nahyan met two business delegations  on Tuesday comprising major Korean companies and entrepreneurs as part of his state visit to the Republic of Korea.

Sheikh Mohamed engaged in conversation with the Korean delegations about the growth of their companies and listened to them discuss the various industries in which they are involved, the innovative ideas and products they offer, and the key challenges they face.

During the meeting, Sheikh Mohamed discussed the growing economic, investment, and trade relations between the UAE and the Republic of Korea. He emphasised the role of companies and the business community in both countries in enhancing these ties, particularly through joint projects and investments.

Sheikh Mohamed noted that the UAE is keen to attract investments by providing a supportive environment through robust infrastructure and favourable regulations. He added that the UAE’s geographical location makes it a commercial gateway to the Middle East.

Sheikh Mohamed emphasised that the agreements to be signed between the UAE and the Republic of Korea during the visit will pave the way for additional opportunities for companies and entrepreneurs in both countries to collaborate and invest, heralding a new era in economic relations.

For their part, the Korean business leaders and executives expressed their pleasure at meeting Sheikh Mohamed, emphasising their interest in investing and working in the UAE and strengthening cooperation with their counterparts in the UAE. They recognised the UAE’s impressive development and the variety of investment opportunities it presents, noting the significance of His Highness’ visit to the Republic of Korea for the future of economic relations between the two countries.

The meeting was attended by Sheikh Hamed Bin Zayed Al Nahyan; Sheikh Hamdan Bin Mohamed Bin Zayed Al Nahyan; Sheikh Mohammed Bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Presidential Court; Suhail Bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Mohamed Hassan Al Suwaidi, Minister of Investment; Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Khaldoun Khalifa Al Mubarak, Chairman of the Executive Affairs Authority and Member of Abu Dhabi Executive Council; Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the National Media Office (NMO); and a number of officials accompanying His Highness the President on his visit.

Investment Forum: The UAE-Korea Business and Investment Forum was concluded on Tuesday in Seoul, on the sidelines of the official visit of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan to the Republic of Korea, heading a high-level UAE delegation.

In the presence of Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, an economic delegation of Emirati public- and private-sector representatives attended the UAE-Korea Business and Investment Forum. Organised by the UAE’s Ministries of Investment and Economy, in collaboration with the UAE Embassy in Seoul and Korea’s Ministry of Trade, Industry and Energy, the Forum sought to expand the two nations’ trade and commercial relations in high-growth sectors such as energy, ICT, logistics and manufacturing.

Dr Al Zeyoudi said that economic ties between the UAE and the Republic of Korea are witnessing robust growth across all major sectors owing to the joint will of the leaderships of both sides.

During his address to the Forum, Dr Al Zeyoudi championed the potential of deeper ties between the UAE and Korea, citing their shared vision for open, rules-based trade, strategic investment and technological development. He said, “With an advanced, digitised economy, attractive business ecosystem and world-leading manufacturing sector, Korea is a hugely important trade and investment partner for the UAE as we seek to secure a new era of growth. The UAE-Korea Business and Investment Forum will serve to enhance bilateral ties by promoting bilateral trade, facilitating two-way FDI, and enhancing collaboration across a range of economic sectors, including energy, advanced manufacturing, technology, food security and healthcare.”

“Our nations are long-standing friends and we look forward to building on today’s conversations and delivering long-lasting benefits for our respective economies,” he added.

Dr Al Zeyoudi invited the private sectors in both nations to capitalise on the two nations’ many economic synergies, which include world-class logistics infrastructure, connectivity, ease of doing business and specialised free zones. He highlighted the UAE’s recent US$30 billion investment commitment to Korea and the success of the Korean-built Barakah nuclear power plant in Abu Dhabi as evidence of growing economic integration.

InKyo Cheong, Korea’s Minister for Trade, said, “The Business Forum provides an important platform for business leaders from both countries to share insights, experiences and objectives. It allows our private sectors to discover new opportunities for investment and cooperation, and expand and strengthen economic cooperation between our two countries. Our government will continue to support these endeavours and work to ensure that bilateral relations produce tangible results long into the future.”