Top Korean Business Executives to Hold Meeting with President of the UAE

Korean Business Leaders to Meet with UAE President During State Visit

In an exciting development for the business world, Korean business leaders are set to meet with United Arab Emirates (UAE) President Muhammad bin Zayed Al Nahyan during his upcoming state visit to Korea. The meeting is scheduled to take place in Seoul on May 28 and will include prominent figures such as Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, and Hyundai Motor Group Chairman Chung Eui-sun.

The gathering is expected to focus on exploring potential collaborations in various fields, including advanced technology, defense, and energy. This meeting comes as a continuation of the strong relationship between Korean business leaders and President Muhammad, with Lee having previously met with the then-crown prince during a business trip to the UAE in 2019.

One of the key highlights of the meeting will be the discussion around the memorandum of understanding (MOU) signed between Hyundai and the UAE’s sovereign wealth fund last year. The MOU aims to promote cooperation in areas such as hydrogen, green aluminum, eco-friendly mobility, and advanced air mobility (AAM).

Since President Yoon Suk-yeol’s state visit to the UAE last year, the cooperation between the two countries has significantly expanded beyond traditional sectors like energy and defense. The discussions during the meeting are expected to touch upon new areas of collaboration such as hydrogen, biotechnology, smart farms, digital transformation, and the metaverse.

The Korean business community is eagerly anticipating the follow-up measures on the UAE’s US$30 billion investment pledge for Korea, which was announced during President Yoon’s visit to the UAE. This visit by President Muhammad is seen as a reciprocal gesture following President Yoon’s visit to the UAE and marks the first time a UAE president has visited South Korea.

President Muhammad took office in May 2022 following the passing of his half-brother, King Khalifa bin Zayed Al Nahyan. His visit to Korea signifies the growing importance of the relationship between the UAE and Korea, with both countries looking to strengthen ties and explore new avenues of cooperation.

Overall, the meeting between Korean business leaders and President Muhammad is expected to pave the way for enhanced collaboration and partnerships between the two nations in key sectors, driving innovation and economic growth for both parties. Stay tuned for more updates on this exciting development in the world of business and international relations.