On January 16 in Abu Dhabi, the Korea International Trade Association (KITA, Chairman Christopher Koo) held a Korea-UAE Business Forum together with the Abu Dhabi Chamber of Commerce. This event, held on the occasion of President Yoon Seok-Yeol’s state visit to the UAE, was the largest in the history of bilateral exchange, with 220 businessmen participating.

On the Korean side, President Yoon Seok-Yeol, KITA Chairman Christopher Koo, as well as high level government officials such as Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-Ho, and Minister of Trade, Industry and Energy Lee Chang-Yang attended. In addition, 120 businessmen part of the business delegation, such as Samsung Electronics Chairman Lee Jae-Yong and Hyundai Motor Group CEO Chung Eui-Sun, were present. On the UAE side, government officials such as Minister of Energy Suhail Al Mazroui, and Minister of Economy Abdullah Al Marri, and other figures such as CEO of Abu Dhabi’s harbor company Juma Al Shamisi and others, totaling 100, attended.

At the Forum, discussions were conducted on future industries and technological cooperation, with the participation of middle-market enterprises and start-ups, as new industry cooperation is being emphasized amidst changes in the economic paradigm, such as carbon neutrality and digital transformation.

At the MOU signing ceremony for Korea-UAE Economic Cooperation, held as a side event after the Forum, together with an MOU for the establishment of a Korea-UAE Economic Cooperation Committee, 24 MOUs were established for joint cooperation in 1) strengthening support for companies, 2) energy, 3) transportation, 4) ICT, 5) defense, 6) smart farms, etc.