Ankara: President Lee Jae Myung utilized his four-nation tour, including his participation in the Group of 20 (G20) summit in South Africa, to enhance economic relations with Global South nations amid a transforming global trade order.
According to Yonhap News Agency, Lee concluded his multi-country trip to the United Arab Emirates (UAE), Egypt, and Turkey, coinciding with the G20 summit in Johannesburg, where he aimed to bolster economic collaboration in sectors such as defense, nuclear energy, infrastructure, and cultural industries.
The G20 meeting represented the final segment of his multilateral diplomacy for the year, following his engagements at the Group of Seven summit, the U.N. General Assembly, the Association of Southeast Asian Nations summit, and South Korea's hosting of the Asia-Pacific Economic Cooperation summit.
During the G20 summit, President Lee advocated for revitalizing the World Trade Organization's multilateral trading system, enhancing collaborative efforts to combat climate change, and ensuring more equitable access to artificial intelligence (AI) technologies.
Lee highlighted the importance of establishing a stable and mutually beneficial supply chain for critical minerals, amidst growing trade tensions between the United States and China over rare earth minerals.
The presidential office stated that Lee's participation at the G20 expanded the scope of his "pragmatic" diplomacy centered on national interests into the Global South, a term generally referring to developing economies in Africa, Latin America, and the Caribbean.
In his visits to the UAE, Egypt, and Turkey, Lee explored avenues to strengthen economic relations with countries pivotal for trade, energy security, and other cooperative areas.
"The Middle East is a crucial pillar of our diplomacy, and the three nations I visited are key states in the region," Lee mentioned to reporters on his way to Ankara. "There are many new opportunities to explore in areas such as the defense industry, trade and investment, and various other fields of cooperation, and our existing partnerships with the countries need to be strengthened."
In Abu Dhabi, Lee and UAE President Mohamed bin Zayed Al Nahyan witnessed the signing of seven memorandums of understanding (MOUs) in advanced industries, including AI, nuclear energy, aerospace, and healthcare.
A significant outcome was a framework agreement on strategic AI cooperation for the UAE's Stargate project, an AI data-center cluster in Abu Dhabi. The initial global investment for this major AI infrastructure project is approximately 30 trillion won (US$20.5 billion), with a 200-megawatt facility expected to be operational next year.
The two leaders also discussed advancing joint weapons development, production, and sales in third markets, building on arms exports. The presidential office estimated the potential economic benefit at around $15 billion.
Expanding on bilateral cooperation at the Barakah nuclear power plant in the UAE, they also agreed to jointly explore opportunities in future nuclear energy export markets.
In Ankara, Lee and Turkish President Recep Tayyip Erdogan agreed to deepen cooperation in defense, nuclear energy, and other sectors, aiming for more joint projects following Turkey's Altay main battle tank program based on South Korea's K2 technology.
During the summit, both countries signed an MOU on nuclear energy cooperation, paving the way for South Korea's bid to secure Turkey's upcoming project to build its second nuclear power plant in Sinop on the Black Sea coast.
In Cairo, Lee and Egyptian President Abdel Fattah El-Sisi discussed collaboration on large-scale infrastructure projects, including reconstruction efforts in the Gaza Strip and the expansion of Cairo International Airport, estimated at over $2 billion.
There, Lee unveiled the "SHINE" initiative, which stands for stability, harmony, innovation, network, and education, designed to deepen South Korea's engagement in the Middle East and support long-term regional cooperation.