The UAE and South Korea have agreed to expand business ties, with Abu Dhabi organisations identifying around $2 billion of investment opportunities in the Asian country. Following South Korean President Yoon Suk Yeol’s visit to Abu Dhabi in January, the UAE pledged to invest up to $30 billion in sectors such as energy and information technology.
Korea Development Bank and Mubadala Investment Company have been exploring follow-up investments since the summit. The two agencies have not yet elaborated on the potential investments, but the joint statement on Monday indicates that the two countries are making progress in their efforts to strengthen economic ties.