The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Hybe's new boy group Boynextdoor aims to be 'one and only' presence in K-pop

  • 3

    Brave Girls to restart activities under new name

  • 5

    Rapper Mino attends sister's wedding in U.S. amid military service

  • 7

    Running convenience stores becomes popular among people in 20s, 30s

  • 9

    Actors' off-screen chemistry enthralls fans

  • 11

    Sluggish exports behind weak Korean won

  • 13

    Naver suffers shrinking online search market share

  • 15

    Doctors, pharmacists to receive 30% bonus for offering telemedicine service

  • 17

    'Elemental' director on bringing his personal story of immigration to cinema

  • 19

    Directors thrive on streaming platforms amid sluggish film industry

  • 2

    Seoul city erroneously sends emergency alert after NK launch

  • 4

    NK's attempt to launch 1st spy satellite fails after 'abnormal' flight: S. Korean military

  • 6

    Korea to ease immigration rules to attract more medical tourists

  • 8

    Big businesses face growing union pressure to extend retirement age

  • 10

    Seoul city takes flak for emergency text alert on NK's rocket launch

  • 12

    Anti-corruption watchdog set to investigate crypto assets of lawmakers

  • 14

    Seoul resident clashes with authorities for raising dogs to nab 'North Korean spies'

  • 16

    Pyongyang may have delayed spy satellite launch due to technical issues

  • 18

    NATIONALKorea likely to face pressure over imports of Fukushima seafood

  • 20

    Rude cabbies in Seoul face stricter penalties

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Thu, June 1, 2023 | 04:43
Companies
UAE explores investment opportunities in Korea
Posted : 2023-05-22 16:48
Updated : 2023-05-23 14:51
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Ranking officials from Korea's financial sectors and a business delegation from the United Arab Emirates (UAE) pose after holding the UAE-Korea Sovereign Investment Partnership Forum in Seoul, May 15. In the front row are Korea Financial Investment Association Chairman Seo Yoo-seok, left, Korea Chamber of Commerce & Industry (KCCI) Vice Chairman Woo Tae-hee, third from left, First Vice Finance Minister Bang Ki-sun, fourth from left, Mubadala Investment Company Deputy CEO Waleed Al Muhairi, sixth from left, Financial Services Commission Vice Chairman Kim So-young, seventh from left, and Korea Development Bank (KDB) Chairman Kang Seog-hoon, eighth from left. Courtesy of KDB
Ranking officials from Korea's financial sectors and a business delegation from the United Arab Emirates (UAE) pose after holding the UAE-Korea Sovereign Investment Partnership Forum in Seoul, May 15. In the front row are Korea Financial Investment Association Chairman Seo Yoo-seok, left, Korea Chamber of Commerce & Industry (KCCI) Vice Chairman Woo Tae-hee, third from left, First Vice Finance Minister Bang Ki-sun, fourth from left, Mubadala Investment Company Deputy CEO Waleed Al Muhairi, sixth from left, Financial Services Commission Vice Chairman Kim So-young, seventh from left, and Korea Development Bank (KDB) Chairman Kang Seog-hoon, eighth from left. Courtesy of KDB

By Lee Min-hyung

The United Arab Emirates (UAE) is on track to execute $2 billion (2.63 trillion won) of investments in Korea's promising growth areas such as energy and information and communications technology (ICT), the Korea Development Bank (KDB) said in a statement Monday.

This investment comes as a follow-up measure from a summit in January between President Yoon Suk Yeol and UAE President Mohamed bin Zayed AI Nahyan, during which the UAE promised to invest $30 billion in Korea.

A business delegation from the Middle Eastern country visited Korea on May 15 and 16 to discuss the investment plans. The delegation consisted of a group of the country's state-run funds and companies there. It picked energy, ICT, agricultural technology, biotechnology, aerospace and culture as initial areas for investment.

The UAE delegation met with officials from Korean companies and discussed investment ideas. Officials from the delegation also held a meeting with Korea's Finance Minister Choo Kyung-ho for talks on their future steps on the investment and exchanged opinions on bilateral cooperation with the Korea Development Bank (KDB).

Both sides reaffirmed their interest in increasing bilateral partnerships and pledged to cooperate in more diverse areas for the UAE's specific investment decision-making.

They also reached a consensus on holding a joint economic committee in July to discuss the upcoming investment plans.

Korea's finance ministry welcomed the latest decision from the UAE, saying that the invested capital will be used for not just big companies here, but also for promising startups and small and medium-sized businesses with huge growth potential.

The Korean state-run lender and UAE's Mubadala Investment Company signed a memorandum of understanding on the partnership between the two countries. Both sides will carry out a role managing the overall investment processes for the latest partnership, according to the statement released by KDB.

The economic relationship between Korea and the UAE has developed quickly over the past few years. The trade volume in non-petroleum products between the two countries reached $5.3 billion in 2022, up 14 percent from the previous year.


Emailmhlee@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Seoul city takes flak for emergency text alert on NK's rocket launchSeoul city takes flak for emergency text alert on NK's rocket launch
2Rude cabbies in Seoul face stricter penaltiesRude cabbies in Seoul face stricter penalties
3[INTERVIEW] Asia expected to be key driver of ESG growth: Deloitte ESG Partner INTERVIEWAsia expected to be key driver of ESG growth: Deloitte ESG Partner
4North Korea's spy satellite launch fails as rocket falls into sea North Korea's spy satellite launch fails as rocket falls into sea
5Retailers adopt generative AI to offer personalized products, services Retailers adopt generative AI to offer personalized products, services
6Committee calls for lowering requirements for foreigners to teach English online Committee calls for lowering requirements for foreigners to teach English online
7Chinese account for 54% of foreign-owned homes in Korea Chinese account for 54% of foreign-owned homes in Korea
8LS chairman appears in YouTube commercial LS chairman appears in YouTube commercial
9AMCHAM stresses S. Korea-US ties after NK fires 'space launch vehicle' AMCHAM stresses S. Korea-US ties after NK fires 'space launch vehicle'
10Samsung Sharing Kiosk raises $174,000 to help children in need Samsung Sharing Kiosk raises $174,000 to help children in need
Top 5 Entertainment News
1[INTERVIEW] Lee Jun-hyuk unrecognizable in 'The Roundup: No Way Out' INTERVIEWLee Jun-hyuk unrecognizable in 'The Roundup: No Way Out'
2'Elemental' director on bringing his personal story of immigration to cinema 'Elemental' director on bringing his personal story of immigration to cinema
3SHINee celebrates 15th anniversary of debut: 'It feels surreal' SHINee celebrates 15th anniversary of debut: 'It feels surreal'
4ENHYPEN reaches new career high with latest album 'Dark Blood' ENHYPEN reaches new career high with latest album 'Dark Blood'
5'Transformers: Rise of the Beasts' raises bar with epic battle scenes 'Transformers: Rise of the Beasts' raises bar with epic battle scenes
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group