Yoon Talks with MB... "Will Continue UAE Achievements"

President Yoon Urges Former President Lee to Take Interest and Role

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol shared the achievements of economic diplomacy in a phone call with former President Lee Myung-bak following his 'state visit to the United Arab Emirates (UAE).'

President Yoon emphasized his commitment to continuing the success of securing investment commitments worth $30 billion (approximately 37 trillion won) from the UAE, and reportedly requested the interest and role of former President Lee, who has close ties with the UAE side.

A presidential office official told Asia Economy on the 29th, "President Yoon spoke with former President Lee last week and had a casual conversation related to the tour."

Since President Yoon has continued to emphasize the economy even after his visits to the UAE and Switzerland, this recent call with former President Lee is interpreted as an effort to maintain the achievements of the tour.

During the Lee Myung-bak administration in 2009, South Korea exported the Barakah nuclear power plant to the UAE, valued at 21 trillion won. In 2010, former President Lee invited then-Crown Prince Mohammed bin Zayed Al Nahyan to the Blue House to discuss follow-up measures and expanded cooperation.

[Image source=Yonhap News]

After leaving office, former President Lee visited the Barakah nuclear power plant construction site in 2016 to encourage Korean workers, showing his special affection for the Barakah nuclear power plant.

Due to this connection, it is reported that President Mohammed inquired about former President Lee’s health during President Yoon’s visit to the UAE.

Within political circles, there is speculation about former President Lee serving as a 'Middle East special envoy,' and there are prospects that President Yoon might invite former President Lee and his spouse to the Hannam-dong residence to discuss the 'Second Middle East Boom.' However, the presidential office states that the top priority is the recovery of former President Lee’s health.

Furthermore, President Yoon is expected to review the outcomes of the tour through future export strategy meetings and finalize the blueprint regarding the investment sectors for the UAE sovereign wealth fund’s $30 billion, as well as institutional improvements for investment.