Abu dhabi: South Korea and the United Arab Emirates (UAE) signed seven memorandums of understanding (MOUs) on Tuesday to expand cooperation in advanced industries during a summit between President Lee Jae Myung and UAE President Mohamed bin Zayed Al Nahyan, the presidential office said. The preliminary agreements were signed during Lee's state visit to the UAE, aimed at boosting trade and investment and strengthening collaboration in strategic sectors, including artificial intelligence (AI), aerospace, and nuclear energy.

According to Yonhap News Agency, among the documents were a strategic cooperation framework on AI, as well as MOUs on space cooperation and global partnerships in next-generation nuclear technologies and AI. The office stated that the two sides also signed MOUs related to the implementation of the bilateral Comprehensive Economic Partnership Agreement (CEPA) signed last year, as well as enhanced cooperation in intellectual property rights.

CEPA is a type of free trade agreement that emphasizes a broader scope of economic cooperation and exchanges in addition to market opening, which requires parliamentary ratification to take effect. The UAE is the first Middle Eastern nation to sign a free trade deal with South Korea.