KITA (Chairman: Jin-sik Yoon) dispatched an economic cooperation delegation to three key Emirates - Abu Dhabi, Dubai and Sharjah from Monday to Wednesday, 22 - 24 September local time. During the visit, KITA officially kicked off the Korea - UAE Joint Business Council.
Korea - UAE Joint Business Council kick-off ceremony was held on Monday, 22 September at Rixos Marina Abu Dhabi and was attended by 60 business representatives from both Korea and the UAE, including Jin-sik Yoon, the Chairman of KITA and Abdallah Sultan Al Owais, the Vice Chairman of the Federation of UAE Chambers of Commerce and Industry who also acts as the Chairman of Sharjah Chamber of Commerce and Industry.
Two years ago in January 2023, KITA signed an MOU with the Federation of UAE Chambers of Commerce and Industry in Abu Dhabi and agreed to establish a council dedicated to expanding Korea - UAE economic cooperation. Regular meetings took place ever since and the UAE Joint Business Council kicked off, which is divided into three subcommittes aligned with three key areas for bilateral economic cooperation - a) digital, AI and next generation sectors, b) cutting-edge machinery and mobility sectors and c) energy and infrastructure sectors. From the Korean side, a total of 25 companies with business operations in the Middle East, including POSCO International specialising in energy, Wrtn Technologies specialising in AI, Twinny specialising in robotics, Kakao Mobility specialising in mobility and MegaGen Implants specialising in medical equipment will be engaged in the Council.