Seek Synergy Between Korea’s ‘Manufacturing·ICT’ and UAE’s ‘Infrastructure·Finance’

-      KITA held Korea-UAE Business Forum on 27^th… 300 business people from the two countries discussed mutual cooperation measures -

The Korea International Trade Association (Chairman, Kim Young-joo) announced that it held the Korea-UAE Business Forum jointly with the Dubai Chamber of Commerce on March 27 (local time).

This forum was held under the theme of 'Building a future-oriented partnership for the new 100 years'. President Moon Jae-in and 300 representative business people from Korea and the UAE participated in the event and discussed ways to expand bilateral cooperation in various fields, including new and renewable energy, ICT, medical care, and financial services.

In his keynote speech, President Moon Jae-in highly praised the relationship between Korea and the UAE, which has developed into the only "special strategic partnership" in the Middle East.

Chairman Kim Young-joo of the Korea International Trade Association said in his welcoming speech, "Korea has a strong manufacturing base and a high level of ICT while the UAE has excellent infrastructure and financial competitiveness. Therefore, mutual cooperation between Korea and UAE can lead to joint development of the countries." He also stressed “The newly opened UAE center of KITA will fulfill its role as a trade and investment foothold for both countries."

In the Forum, the president Sung Myung-hoon of the royal Sheikh Khalifa Specialist Hospital, which is operated by Seoul National University Hospital, delivered a presentation on the achievements that they have spread Korea’s highly advanced medical care service in the UAE as well as the direction of future development. A senior researcher Joo Dong-joo at the Korea Institute for Industrial Economics & Trade suggested presented the ways for mutual growth focusing on the areas where the two countries’ cooperation can produce significant synergy such as renewable energy, ICT, finance and tourism and received a favorable response from attendees.

President Hamad Buamim of the Dubai Chamber of Commerce introduced the business friendly features of the UAE market and proposed expanding bilateral cooperation and building robust partnership for the future industries such as ICT, medical care and new and renewable energy.

A Korean entrepreneur who participated in the forum said, "I was able to feel the UAE's strong interest and willingness to support to foster the new growth industry and I expect that this forum will be a new occasion for the cooperation between Korea and the UAE for the future industry."

Samsung Electronics, Hyundai E&C, Doosan Heavy Industries & Construction, SK Innovation, Hanwha Group, LG Chemical, Korea Electric Power Corporation, Korea Construction Association, the UAE Minister Sultan Al Mansouri of Economy, the UAE Minister Suhail Mohamed Faraj Al Mazrouei of Energy & Industry, Chairman Majid Saif Al Ghurair of Dubai Chamber of Commerce, and President Raja Al Gurg of the Dubai Business Women Council participated in the forum.