Lee Jae-yong, Choi Tae-won, Chung Eui-sun and Other Business Leaders to Meet UAE President

Prospects for Discussing Cooperation Plans Including UAE-Related Projects

Lee Jae-yong, Chairman of Samsung Electronics; Chey Tae-won, Chairman of SK Group; Chung Eui-sun, Chairman of Hyundai Motor Company; and Kim Dong-kwan, Vice Chairman of Hanwha, along with other business leaders, will meet with Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), who will make a state visit on the 28th and 29th.

According to business circles on the 27th, they are expected to have tea time with President Mohammed on the afternoon of the 28th at an undisclosed location in Seoul.

The business leaders are likely to explore cooperation plans in various fields such as advanced technology, defense and military industry, and energy during this meeting.

Chairman Lee Jae-yong has maintained a relationship with President Mohammed since meeting him during a 2019 business trip to the UAE when Mohammed was then Crown Prince. In the same year, President Mohammed visited Korea and toured Samsung Electronics' semiconductor production line at the Hwaseong plant, guided by Chairman Lee.

In December last year, Hyundai Motor signed a memorandum of understanding (MOU) with the UAE sovereign wealth fund to promote business cooperation in hydrogen, green aluminum, eco-friendly mobility, and future aviation mobility (AAM) sectors.

Business circles are expecting possible follow-up measures regarding the UAE's $30 billion investment pledge.

Earlier, President Yoon Suk-yeol made a state visit to the UAE in January last year as the first Korean head of state to do so, securing a $30 billion investment pledge and signing a total of 48 MOUs.