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  • 23-05-23

    Abu Dhabi, South Korea Identify USD2b Investment Opportunities

    (MENAFN) Abu Dhabi and South Korea have strengthened their business ties, leading to the identification of approximately USD2 billion in investment opportunities, according to a joint statement released on Monday. This development comes after the two sides agreed to expand their cooperation during South Korean President Yoon Suk Yeol's visit to Abu Dhabi in January. As part of the agreement, the UAE pledged to invest up to USD30 billion in South Korea, focusing on sectors such as energy and information technology.

    The joint statement, issued by Korea Development Bank and Mubadala Investment Co., highlighted the progress made in identifying potential investment opportunities in South Korea. However, specific details regarding these opportunities were not provided in the statement. The two agencies have been actively exploring follow-up investments since the summit, further solidifying the commitment to strengthen bilateral economic relations.

    The collaboration between Abu Dhabi and South Korea opens up avenues for mutual benefits and economic growth. The investments aim to enhance cooperation in key sectors, including energy and information technology, driving innovation and fostering economic development in both countries. These strategic investments not only present lucrative opportunities for Abu Dhabi organizations but also contribute to the growth and diversification of South Korea's economy.

    As the partnership between Abu Dhabi and South Korea progresses, it is anticipated that further investment opportunities and collaborations will be identified. This strengthened economic cooperation aligns with the shared vision of both nations to expand trade, promote technological advancements, and foster sustainable economic growth. The ongoing efforts to explore investment prospects demonstrate the commitment to translating the initial agreement into concrete projects that will generate long-term economic benefits for both Abu Dhabi and South Korea.

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