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Korea, UAE agree to expand partnership in investment forum

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By Yonhap
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Second Vice Science Minister Ryu Jae-Myung speaks during a press briefing at the Government Complex Seoul in Jongno District, Seoul, Aug. 18. Yonhap

Second Vice Science Minister Ryu Jae-Myung speaks during a press briefing at the Government Complex Seoul in Jongno District, Seoul, Aug. 18. Yonhap

South Korea and the United Arab Emirates (UAE) agreed Wednesday to expand partnerships in cutting-edge sectors, from digital assets to games and autonomous driving, at a forum hosted by the Middle Eastern country's investment office.

Organizations of the UAE government and South Korean companies signed in total seven memorandums of understanding (MOU) at the Abu Dhabi Investment Forum Seoul 2026, or ADIF Seoul, held in southern Seoul, the science ministry said.

The event is hosted by the Abu Dhabi Investment Office (ADIO), a government entity of the UAE for attracting foreign investment. The organization has been holding a series of investment forums at major global cities, and this year marks the first time for it to host the event in South Korea, the ministry, added.

The local companies that signed MOUs include Hanwha Life Insurance Co. and Kakao Mobility, the taxi-hailing platform operator of Kakao Corp.

Second Vice Science Minister Ryu Jae-Myung also participated in the event and expressed South Korea's willingness to forge investment and industry collaboration in digital and cutting-edge sectors with the UAE, the ministry added.