Abu dhabi: President Lee Jae Myung is set to meet business leaders from South Korea and the United Arab Emirates (UAE) on Wednesday to discuss bilateral economic cooperation in technology, defense, energy and other sectors, the presidential office said.

According to Yonhap News Agency, Lee will attend the business roundtable in Abu Dhabi, following his summit with UAE President Mohamed bin Zayed Al Nahyan on Tuesday that focused on deepening economic ties between the two nations. During Lee's state visit, the two countries signed seven memorandums of understanding on strategic collaboration in artificial intelligence (AI), defense industry, energy and other sectors.

"The companies will hold in-depth discussions on major areas of bilateral cooperation, including cutting-edge technology, energy, infrastructure, the defense industry and the cultural sector," the office said in a release. 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 are expected to attend the event.

After the roundtable, Lee will meet service members of the Akh unit, a South Korean contingent stationed in the UAE, before wrapping up his three-day visit. Lee will then fly to Cairo for summit talks with Egyptian President Abdel Fattah al-Sisi, the second stop of his four-nation swing to the Middle East and Africa that includes stops in South Africa for the Group of 20 summit and Turkey.