South Korean President Arrives in UAE

Riyadh – :

By: Samar Yahya

South Korean President Yoon Suk Yeol arrived in the UAE on Saturday for a state visit.

President Yoon was received by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and head of honorary mission accompanying President Yoon; Noura bint Mohammed Al Kaabi, Minister of Culture and Youth; Khaldoun Khalifa Al Mubarak, Chairman of the Executive Affairs Authority, Member of the Executive Council, and Abdullah Saif Al Nuaimi, UAE Ambassador to South Korea.

The plane carrying the Korean president had earlier been greeted and welcomed by Emirati fighter jets as it entered the UAE’s airspace

During the visit, President Yoon will meet with his Emirati counterpart Sheikh Mohamed bin Zayed Al-Nahyan to discuss the cordial bilateral ties and measures to strengthen cooperation in light of their strategic alliance.

The topics of nuclear energy, climate change, health, the space industry, intelligent agriculture, and culture will be discussed. The goal of President Yoon’s visit to the UAE is to promote South Korean exports, particularly those of energy and arms.

President Yoon will meet with several UAE state officials, attend the World Future Energy Summit as part of Abu Dhabi Sustainability Week, and visits key strategic development projects.

Earlier, National Security Advisor Kim Sung-han told reporters that choosing the UAE for its first overseas trip of the year and first visit to a Middle Eastern country reflects President Yoon’s firm commitment to focus diplomacy on boosting the economy and boosting exports.

The main focus of the visit is strategic cooperation with the UAE in the four core areas of nuclear, energy, investment and defense industry. According to a senior presidential official, an announcement is planned for a deal to export South Korean arms to the UAE.

President Yoon itinerary includes his visit to the South Korean-built Barakah nuclear power plant and the Akh unit, a South Korean military contingent. the Barakah Nuclear Power Plant project which began in 2009 was the first nuclear power plant that South Korea assisted in establishing abroad.

During the visit around 30 memorandums of understanding at the governments and the private sector levels, in key areas of cooperation such as energy, arms and investment.

Korean – UAE Business Collaboration

During his visit, President Yoon will also be accompanied by a business delegation compromised of officials from approximately 100 South Korean companies, supporting their expansion into the UAE and discussing opportunities for cooperation with UAE sovereign wealth funds.

Three South Korean companies signed a $1 billion agreement last year to build a green hydrogen and ammonia production plant in the KIZAD Industrial Area near the capital Abu Dhabi, with 35,000 tons at the first phase production until full-scale production begins with the second phase.

Nevertheless, 2021 witnessed the two countries launched free trade talks, under a Comprehensive Economic Partnership Agreement (CEPA).

South Korean Foreign Direct Investments (FDIs) in the UAE totaled $2 billion as of 2019, while the UAE’s investments in South Korea were to $637 million as of 2020.

Between 2012 – 2021 UAE’s non-oil imports from South Korea amounted to approximately 254.8 billion AED. During the same period,  the UAE non-oil exports to South Korea were approximately 20.5 billion AED, in addition to nearly 9 billion AED in re-exports.

Bilateral Relations:

The UAE and South Korea are working to strengthen bilateral ties, for example, earlier in December, UAE President Sheikh Mohamed bin Zayed Al Nahyan met Kim Dae-ki, a special envoy of the South Korean President, in Abu Dhabi, where Dae-ki delivered a written message from South Korea’s President Yoon Suk Yeol, reflecting the two countries friendship as well as the co-operation and opportunities to develop these relations further within the framework of the two countries’ strategic partnership.

Cultural Communication:

Korea relations with UAE are extended to cultural ones.  Emiratis have always welcomed K-pop, K-drama, music, food and Taekwondo.

In 2016, two major cultural events took place in Abu Dhabi. The first-ever annual UAE-Korea Festival which featured art, performances and food, served as a genuine opportunity to showcase Korean culture to Emiratis audience. The opening of the Korean Cultural Centre (KCCUAE), to establish and promote cultural exchange between Korea and UAE.

The Korean drama fans in UAE are on the rise. With the growing interest in Korean culture across the UAE, K-dramas and K-pop are becoming more popular than never. UAE audience is drawn to K-drama because of its similarities to Arabic traditions and habits, as well as its well written script and plot, cinematic quality, up-to-date fashion and the delicious mouthwatering Korean food.

The K-pop stars have become very well known all over the region adding more fans with BTS’ Jung Kook star song of World FIFA Cup 2022 opening, “Dreamers”.

President Yoon’s visit to UAE will last until January 17^th, from the UAE, President Yoon will travel to Zurich, Switzerland, on Tuesday and meet with South Korean residents in the city before traveling to Davos to attend the World Economic Forum from Wednesday to Thursday.