Seoul: South Korea and the United Arab Emirates (UAE) have entered into an agreement to enhance their strategic partnership, focusing on key resource supply chains and the integration of artificial intelligence (AI) in the petrochemical sector, as announced by the trade ministry on Wednesday.

According to Yonhap News Agency, Industry Minister Kim Jung-kwan held discussions with his UAE counterpart, Sultan Al Jaber, on strategies to ensure stable supplies of crude oil and naphtha. The discussions also covered expanding strategic cooperation in nuclear energy, energy infrastructure, and other advanced industries. Sultan Al Jaber is also the CEO of the Abu Dhabi National Oil Co. (ADNOC), the state-run oil company of Abu Dhabi.

The agreement between South Korea and ADNOC is centered on enhancing bilateral collaboration to secure stable oil supplies and jointly manage strategic oil inventories for emergencies, including geopolitical crises such as the U.S.-Iran conflict, as stated by the ministry.

The ministers further deliberated on cooperation in applying AI technologies to the refining and petrochemical industries, sectors where both countries possess competitive strengths and foresee significant growth potential.

"The recent situation in the Middle East has entered a new phase, but ensuring stable supply chains for key resources remains one of the most important tasks for South Korea's economic security," Kim stated. "That is why the government needs to strengthen its strategic partnership with the UAE, one of its major energy suppliers."