South Korean and UAE business leaders met on Wednesday to discuss expanding economic cooperation in areas of artificial intelligence (AI), energy, and shipping. The leaders held discussions during a business roundtable event that coincided with President Lee Jae-myung’s state visit to the UAE.
The discussions came as both nations’ leaders held a summit on Tuesday. The leaders agreed to strengthen collaboration beyond existing sectors such as nuclear power plants, defense, and construction into advanced industries.
South Korea and the UAE seek to establish a mutually beneficial partnership
The leaders of the two countries also agreed to establish a mutually beneficial partnership by broadening the scope of cooperation. They suggested expanding AI to food, beauty, and content.
The Korea-UAE Business Roundtable was held at the Emirates Palace Hotel in Abu Dhabi, hosted by President Lee and UAE Crown Prince Khalid bin Muhammad Al Nahyan. Attendees from Korea included Samsung Electronics Chairman Lee Jae-yong, Federation of Korean Industries Chairman Ryu Jin, Hyundai Motor Group Chairman Chung Eui-sun, KOTRA President Kang Kyung-sung, and Hanwha Group Vice Chairman Kim Dong-kwan.
From the UAE, attendees included the country’s Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, and Mubadala CEO Khaldoon Al Mubarak.
The leaders also commended landmarks in the UAE, including Dubai’s Burj Khalifa, the Aegis Ashore’s Cheongung II, and the UAE Barakah Nuclear Power Plant (Korea’s first nuclear export). They said the landmarks symbolize the sweat and passion of Korean companies as well as the fruits of bilateral cooperation.
President Lee and Crown Prince Khalid had previously had talks at the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju last month about boosting collaborations between the two nations.
“I witnessed the remarkable creativity of the Korean people. Paths are opening for both nations in AI and clean energy.”
-Khalid bin Muhamed bin Zayed Al Nahyan, Crown Prince of the UAE.
Leaders from both parties also discussed concrete measures to implement the economic and industrial cooperation agreement. The declaration was reached during yesterday’s summit between President Lee and UAE President Mohamed bin Zayed Al Nahyan.
The UAE designates South Korea as a key partner for its 2071 vision
According to the agreement, South Korea is designated as a key partner for the UAE’s ‘UAE Centennial 2071’ vision. The leaders of South Korea and the UAE acknowledged that the UAE’s vision aims to position the country as a global leader by 2071. President Lee revealed that the country’s 2071 goal includes future partnerships in advanced industries, defense, energy, and culture.
Federation of Korean Industries Chairman Ryu Jin said the event marks a meaningful opportunity for the UAE to play a central role in the global economic order and for Korea to create new growth opportunities.
He also argued that the UAE and Korea complement each other as partners, as the UAE aspires to be a global AI leader in the 2030s, while Korea is a powerhouse in AI semiconductors and practical technologies.
Korean companies are eyeing to advance their presence in the UAE’s AI, energy, defense, and cultural content sectors after the visit. The meeting reportedly saw tech giants from South Korea, including Samsung, Hyundai Motors, LG Electronics, and Naver, sharing business plans with their UAE counterparts for the $100 billion UAE Stargate Project.
During the meeting, Korea Electric Power Corporation (KEPCO) revealed plans to partner with the Abu Dhabi-based Emirates Nuclear Energy Corporation (ENEC) to establish next-generation power projects in the region. CJ and Saamyang Foods also held talks about the cultural content business in the UAE.
President Lee also highlighted the business opportunity in high-bandwidth memory (HBM) technology. He argued that Korea’s semiconductor technology, engineering, procurement, and construction (EPC) capabilities will help propel the UAE’s transition to a global AI hub by 2030.
Korea’s President mentioned that the partnership will accelerate advanced industry cooperations in AI data centers and biotech. He also revealed that both parties will implement related projects through the Korea-UAE Comprehensive Economic Partnership Agreement (CEPA), which is expected to take effect in early 2026.
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