UAE-Korea business forum shines spotlight on high-growth sectors

The UAE-Korea Business and Investment Forum was held in Seoul on Tuesday, on the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan's official visit to South Korea.

An economic delegation of Emirati public and private sector representatives attended the event 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.

During his address, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, championed the potential of deeper ties between the UAE and South Korea, citing their shared vision for open, rules-based trade, strategic investment and technological development.

"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," he said.

Dr. Al Zeyoudi invited private sector firms in both nations to capitalise on the two countries' economic synergies, which include world-class logistics infrastructure, connectivity, ease of doing business and specialised free zones.

He highlighted the UAE’s recent $30 billion investment commitment to South Korea and the success of the Korean-built Barakah nuclear power plant in Abu Dhabi as evidence of growing economic integration.

"The business forum 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," said InKyo Cheong, Korea's Minister for Trade.

Hosting over 250 public and private sector representatives, the forum featured three main sessions to accelerate cooperation across key sectors, including ‘Exploring Clean Energy Partnerships’, ‘Bridging Innovation in ICT and Telecoms’, and ‘Streamlining Trade: Logistics, Manufacturing and Free Trade’.

The role of the forum as a platform for bilateral collaboration was underlined by the signing of a Memorandum of Understanding (MoU) between the UAE’s TECOM Group and Korea’s Meditox to enhance cooperation in areas of mutual interest.

The visiting delegation to Seoul included over 60 participants, including senior federal and local government officials, in addition to representatives of major UAE companies operating in various sectors, such as logistics, industry, energy, technology, healthcare, environment, agriculture, food security and financial services.