Yoon Arrives in Abu Dhabi, UAE for First Overseas Visit... 'Entering Economic Diplomacy'

President Mohamed Invited as State Guest
3 Nights 4 Days Summit and Economic Diplomacy Focus
Visit to Barakah Nuclear Plant, First Nuclear Export, and ARC Unit

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol arrived in the United Arab Emirates (UAE), his first overseas destination of the year, on the 14th (local time).

President Yoon and his wife, Kim Keon-hee, landed at Abu Dhabi Airport, the capital of the UAE, after about 12 hours of travel that afternoon.

Invited by UAE President Mohamed bin Zayed Al Nahyan, President Yoon will visit the UAE from the 14th to the 17th and hold a summit meeting with President Mohamed.

The visit to the UAE is by invitation of UAE President Mohamed bin Zayed Al Nahyan, marking the first state visit by a Korean head of state since the establishment of diplomatic relations between the two countries in 1980.

[Image source=Yonhap News]

The Presidential Office expects that through this visit, strategic cooperation with the brotherly nation UAE will be significantly strengthened in four core areas: nuclear power, energy, investment, and defense industry, and that the scope and depth of cooperation will be further expanded through numerous agreements.

It is known that there are about 30 government and private memorandums of understanding (MOUs) under discussion between Korea and the UAE. President Yoon also brought an economic delegation composed of about 100 Korean companies. This is a measure to comprehensively support Korean companies’ entry into the UAE market. Cooperation plans with the UAE sovereign wealth fund will also be discussed during this process.

This economic delegation was formed on a private sector initiative. About 70% of the participating companies are mid-sized enterprises. In addition to traditional cooperation sectors such as energy, infrastructure, and construction, companies from promising areas of economic cooperation between the two countries, including defense industry, game content, smart farms, tourism services, and consumer goods, are also included.

[Image source=Yonhap News]

President Yoon is also scheduled to visit the Barakah Nuclear Power Plant, Korea’s first nuclear power export project won in 2009, and the UAE deployment unit of the Republic of Korea Armed Forces, the Akgubu Unit.

Before departure, President Yoon posted on Facebook, "I have focused all the schedules on the economy," and emphasized, "I will do my best to promote Korea’s excellent investment environment and revitalize the economy through export expansion."

After completing the 3-night, 4-day schedule in the UAE, President Yoon will move to Switzerland to attend the World Economic Forum (WEF, Davos Forum) annual meeting and other events.