South Korea President Meets with UAE President
Inking of 13 MOUs and $30 billion UAE investments in South Korea's industries
Riyadh – 
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By: Samar Yahya
His Highness the President of the UAE Sheikh Mohamed bin Zayed Al Nahyan received South Korean President Yoon Suk Yeol, who is on a state visit to the UAE, today.
President Yoon, accompanied by First Lady Kim Keon-hee, was welcomed at Qasr Al Watan in Abu Dhabi with an official reception ceremony, during which Sheikh Mohamed bin Zayed accompanied him.
The reception was attended by a number of senior officials from the UAE and South Korea.
The two sides discussed various paths of cooperation and development in the fields of investment, economics, science, culture, and advanced technology, as well as renewable energy and other vital areas of interest in their respective future plans.
“We will support the success of the UAE’s hosting of COP 28 in Dubai at the end of this year and work together in that regard,” President Yoon was quoted as saying in a statement published by UAE newspaper Al Ittihad.
President Yoon stated that “approximately 30 percent of the overseas orders our construction companies received in 2022 were from the Middle East,” emphasizing that infrastructure cooperation in large-scale construction is the driving force behind Korean and UAE economic development.
According to Reuters, UAE has decided to invest $30 billion in South Korean industries, South Korean presidential office said on Sunday, as the two countries seek to expand economic cooperation.
The investment decision was announced as President Yoon Suk-Yeol met UAE President, Sheikh Mohammed bin Zayed in Abu Dhabi.
At their summit, the two countries also signed 13 MOUs, including an agreement between the state-run Korea Development Bank and the Abu Dhabi state fund Mubadala to cooperate for investment in South Korean companies.
