Arrival in Abu Dhabi, UAE... Attends Meeting with Local Korean Community
"Two Countries Must Develop into an Economic Community for Joint Expansion into Third Markets"
Defense MOU Expected at Summit
Interview with Leading Local Daily: "Clos
President Lee Jae-myung, who is on a state visit to the United Arab Emirates (UAE), stated that the UAE will serve as a "base camp" for Korea's expansion into the Middle East. He emphasized that the two countries should develop into an "economic community" to jointly advance into third markets. The UAE is one of the key target countries for Korea's defense industry exports, and a memorandum of understanding (MOU) on defense cooperation is expected to be signed at the Korea-UAE summit scheduled for November 18 (local time).
Through an interview with a leading UAE media outlet, President Lee also shared his vision of using this visit as a "starting point for the next 100 years" in bilateral relations and strengthening comprehensive cooperation in areas such as nuclear power, energy, artificial intelligence (AI), semiconductors, space, and climate finance.
President Lee Jae-myung, who is on a state visit to the United Arab Emirates (UAE), is delivering a greeting at a dinner meeting with overseas Koreans held at a hotel in Abu Dhabi on the 17th (local time). Photo by Yonhap News
Arriving in Abu Dhabi, the capital of the UAE, at 3:15 p.m. on November 17 under the escort of four UAE fighter jets as part of the state visit protocol, President Lee held a meeting with local Korean residents. He remarked, "Korea needs to expand into Africa, Europe, and the Middle East, and in the Middle East, the UAE can serve as a base camp." He added, "By joining hands, our two countries will surely open a new path to shared prosperity." President Lee further stressed, "The two countries must go beyond being brotherly nations and develop into a sort of economic community that conducts research and production together and jointly enters third markets."
President Lee expressed optimism about the future development of bilateral relations, citing the geopolitical similarities between the UAE and Korea. He said, "Both countries serve as a kind of bridge in geopolitical terms, but at the same time, we can also be seen as small nations wedged between great powers with relatively few resources."
He continued, "Korea is the only country among those liberated from colonial rule to have achieved industrialization and become a democratic nation. This is an extraordinary achievement that will be recorded in human history." Regarding the UAE, he said, "It is truly a great nation. Despite being able to amass wealth without worry by selling its golden oil, the UAE is investing in renewable energy, nuclear power, and advanced science and technology." Referring to the wide expanse of solar panels he saw from Air Force One over the desert, he commented, "It is as if barren land is being transformed into fertile soil, opening up a new world."
Addressing the Korean community in the UAE, President Lee mentioned the December 3 Martial Law of last year, saying, "We restored our path beautifully through the power of the people, without taking up arms or resorting to violence. This is our strength," and added, "The relationship between the UAE and Korea will expand beyond what you can imagine. I will make sure to transform our homeland into a country you can be truly proud of."
President Lee Jae-myung and First Lady Kim Hye-kyung, who are on a state visit to the United Arab Emirates (UAE), visited the Sheikh Zayed Grand Mosque in Abu Dhabi on the 17th (local time). They toured the mosque while listening to an explanation from Khaldoon Khalifa Al Mubarak, Non-Executive Director of First Abu Dhabi Bank (FAB) and Chairman of the Board Operations Committee. Photo by Yonhap News Agency
In an interview published on November 18 with the prominent UAE daily "Aletihad," President Lee emphasized that this state visit would mark "the starting point for the next 100 years" in bilateral relations. Referring to UAE President Mohammed bin Zayed Al Nahyan's decision in 2023 to invest 30 billion dollars in Korea, President Lee stated, "The UAE is Korea's only strategic partner in the Middle East and will become its closest economic partner in the long term."
When asked about his assessment of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, President Lee stressed, "It is not only a turning point for expanding bilateral trade and investment, but also a launchpad for elevating Korea to the UAE's closest economic partner." He noted, "With the signing of CEPA, tariffs will be eliminated on more than 90% of traded items, including Korean electric and hybrid vehicles and UAE petrochemical products." He added, "This will contribute to expanding trade, strengthening industrial competitiveness, and enhancing consumer benefits in both countries." He went on to say, "All these processes contribute to strengthening bilateral relations in a long-term and sustainable direction."
President Lee also stated, "Based on the Barakah nuclear power plant, we plan to build a foundation for cooperation in next-generation small modular reactors (SMRs) and jointly enter third-country nuclear power markets." He emphasized, "With global investment in SMRs expected to exceed 670 billion dollars by 2050, our two countries can open up new markets together." In the field of renewable energy, he said, "By combining the UAE's abundant solar energy with Korea's world-class battery technology and energy storage systems (ESS), we can significantly enhance our leadership in the eco-friendly new industry sector."
President Lee Jae-myung, who is on a state visit to the United Arab Emirates (UAE), is touring the Sheikh Zayed Grand Mosque located in Abu Dhabi on the 17th (local time). Photo by Yonhap News
On the second day of his visit, November 18, President Lee will hold a summit meeting with President Mohammed. The official welcome ceremony, summit, MOU signing ceremony, and official luncheon are all scheduled for the same day. The summit is expected to focus on ways to further expand and strengthen bilateral cooperation, particularly in defense, nuclear power, and AI, with attention on whether the MOU will yield tangible results. Previously, Kang Hoonshik, Chief Presidential Secretary, visited the UAE to deliver a personal letter from President Lee to President Mohammed and complete preparations for the summit.
After the summit, a cultural exchange event will be held at the UAE Presidential Palace, attended by President Lee and key UAE figures. The UAE side will present "Al Ayyala," a traditional dance recognized as UNESCO Intangible Cultural Heritage, while Korea's National Gugak Center court music ensemble will perform "Cheonnyeonmanse" to wish for the success of bilateral cooperation. There will also be a joint performance featuring the traditional string instruments of both countries, the gayageum and the oud.
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