Abu dhabi: President Lee Jae Myung has committed to strengthening economic collaboration with the United Arab Emirates (UAE) in key areas such as defense, renewable energy, and artificial intelligence (AI), aiming to cultivate new growth avenues for both nations.
According to Yonhap News Agency, Lee emphasized this commitment during a meeting with business leaders from South Korea and the UAE, held as part of his state visit to the Middle Eastern nation. This visit particularly focused on enhancing economic relations between the two countries.
Lee expressed optimism about building on existing partnerships in traditional sectors like nuclear energy and defense. He proposed expanding cooperation into emerging fields, including renewable energy, joint weapons development, and collaboration in third-country markets. At a business roundtable event in Abu Dhabi, he urged the two nations to advance cooperation in clean energy and the defense industry.
He proposed leveraging the UAE's abundant solar energy resources alongside Korea's advanced battery technology. This synergy, he suggested, would help both countries achieve their carbon neutrality targets by 2050 while nurturing new eco-friendly industries.
In the realm of nuclear energy, Lee stated that South Korea intends to aid the UAE by constructing facilities for nuclear fuel and electricity production. In the defense sector, he advocated for cooperation that extends beyond mere weapons procurement. He highlighted the potential for joint development, technology sharing, and local production, aiming to advance the defense industries of both nations. He also envisioned joint entry into third-country markets as a means to elevate bilateral cooperation to a global level.
Lee underscored the prowess of Korean chipmakers, positioning South Korea as the UAE's most dependable partner in its endeavor to become a global AI hub by 2031. Additionally, he called for increased people-to-people exchanges in sectors like food and beauty, expressing hope that enhanced cooperation with the UAE would help proliferate K-culture throughout the broader Middle East.
The business event saw the presence of notable figures, including Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, Hanwha Group Vice Chairman Kim Dong-kwan, and LG Electronics CEO Cho Joo-wan.
Following the roundtable, Lee is scheduled to visit the Akh unit, a South Korean contingent stationed in the UAE, before concluding his three-day visit. He will then proceed to Cairo for summit discussions with Egyptian President Abdel Fattah al-Sisi, marking the second stop of his four-nation tour across the Middle East and Africa, which also includes visits to South Africa for the Group of 20 summit and Turkey.