President Lee Jaemyung: "Korea Will Be the UAE's Closest Economic Partner"

President Lee’s Interview with UAE Media
On Choosing the UAE as His First Middle East Destination
“Korea’s Strong Will, Foundation for a New Century”

President Lee Jae-myung, who is on a state visit to the United Arab Emirates (UAE), is greeting officials at the Sheikh Zayed Grand Mosque in Abu Dhabi on the 17th (local time). Photo by Yonhap News

On November 18 (local time), President Lee Jae-myung stated that South Korea will become the United Arab Emirates' (UAE) closest economic partner. He also emphasized the need to further expand cooperation in advanced technology fields such as artificial intelligence (AI), as well as tourism, culture, and climate, including the Barakah Nuclear Power Plant.

In an interview with the UAE media outlet Al-Ittihad, which was released on this day, President Lee was asked how he evaluates the Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries. He stressed, "It will not only serve as a turning point for expanding trade and investment between our two countries, but also as a launchpad for elevating South Korea to the UAE's closest economic partner." This interview was released to coincide with President Lee's three-day state visit to the UAE.

Since officially establishing diplomatic relations in 1980, South Korea and the UAE have expanded their level of cooperation in areas such as the economy, military, and healthcare. The CEPA between the two countries was signed in 2024.

President Lee explained, "With the signing of CEPA, tariffs will be eliminated on more than 90% of traded items between the two countries, including South Korean electric and hybrid vehicles and UAE petrochemical products," adding, "This will contribute to expanding bilateral trade, strengthening industrial competitiveness, and enhancing consumer benefits." Regarding the gradual expansion of cooperation between the two countries, he said, "I hope to strengthen our special strategic partnership in a long-term and sustainable direction."

President Lee's First Middle East Visit Is to the UAE... "A New Century of Bilateral Relations"

President Lee Jae-myung, who is on a state visit to the United Arab Emirates (UAE), is visiting the UAE Martyrs' Cemetery, "Wahat Al Karima," on the 17th (local time) and touring the memorial space. Photo by Yonhap News

President Lee also emphasized the reason for choosing the UAE as his first Middle Eastern destination since taking office, calling it "a symbolic choice that demonstrates the South Korean government's strong will to deepen and advance bilateral relations." He stated, "During this visit, the leaders of both countries agreed to expand cooperation into future-oriented fields such as AI, advanced technology, healthcare, and culture, in addition to the existing four main areas of cooperation (investment, defense industry, nuclear power, and energy)," adding, "This will serve as the foundation for opening a new century of bilateral relations."

President Lee went on to mention the UAE's plan to integrate AI into all industries, saying, "South Korea, as a global leader in memory semiconductors, can serve as a strategic partner by supplying the AI memory chips the UAE needs." He explained that South Korea has competitiveness across the entire supply chain for semiconductors, including materials, components, and equipment, and is thus able to meet the UAE's demands.

President Lee also analyzed that, regarding the Barakah Nuclear Power Plant built by South Korea in the UAE, "With its successful construction and operation, the two countries will open a new chapter in energy cooperation." He noted, "The global investment in small modular reactors (SMRs) is expected to exceed 670 billion dollars by 2050," and added, "South Korea is advancing SMR technology, pursuing the construction of a domestic demonstration reactor, and laying the foundation for next-generation nuclear technology cooperation with the UAE and joint entry into third-country nuclear markets."

Meanwhile, on tourism and cultural cooperation, President Lee said, "For Koreans, the UAE is the most important travel destination in the Middle East," explaining, "The South Korean government is considering ways to further simplify entry procedures for UAE nationals." He added, "By 2030, we plan to establish a new Korean Cultural Center in the UAE and foster it as a hub for culture and trade."