Korea and UAE Discuss Joint Development and Production of Weapon Systems
Egyptian President Requests Participation in $2.3?3.1 Billion 'Airport Expansion' Project
President Lee Jaemyung, who is currently touring the Middle East and Africa, stated that the most concrete achievements regarding defense industry cooperation were made in the United Arab Emirates (UAE), and he expects results to be announced soon.
On the 24th (local time), President Lee held a press conference aboard Air Force One en route from Johannesburg, South Africa-where the G20 Summit was held-to Ankara, T?rkiye. He said, “It seems the UAE has produced the most concrete results,” and added, “The Chief of Staff visited in advance as a special envoy to identify areas of collaboration and discover specific projects, which led to very concrete and substantial achievements.”
Previously, Kang Hoonshik, the Chief Presidential Secretary who visited the UAE first as a special envoy for strategic economic cooperation, stated in a briefing that the expected outcome of defense industry cooperation with the UAE, as a result of this summit, is estimated to exceed 15 billion dollars. Subsequently, on the 18th, President Lee held a summit with President Mohammed bin Zayed Al Nahyan of the UAE, where they discussed not only the purchase and export of weapons but also the joint development and production of weapon systems between the two countries.
He indicated that contract awards are expected to be announced soon. When asked about the possibility of winning defense contracts, President Lee said, “We must achieve export results. Actual outcomes will be revealed in the near future.”
President Lee explained that during his visit to Egypt following the UAE, President Abdel Fattah el-Sisi put forward several concrete proposals. President Lee said, “(President el-Sisi) mentioned, ‘We are planning to expand Cairo Airport, which is expected to cost around 3 to 4 trillion won.’ He expressed his hope that a Korean company would undertake the expansion and operation. I believe this could create a significant opportunity for our companies and people.”
On the occasion of the G20 Summit, President Lee also met with Indian Prime Minister Narendra Modi in South Africa, who proposed establishing a trilateral shipbuilding cooperation framework involving Korea, Japan, and India. President Lee said, “There is still room for consideration on that matter, so I responded, ‘Thank you for the proposal; let’s discuss it further at a later time.’”
In T?rkiye, the final destination of his Middle East and Africa tour, discussions on defense industry and nuclear power cooperation are also expected. President Lee noted that Korea Electric Power Corporation has bid for a nuclear power project in T?rkiye, stating, “Through dialogue between the two heads of state, I will thoroughly explain the excellence and competitiveness of Korea’s nuclear power industry and strive for positive results.”
Meanwhile, President Lee also mentioned that foreign leaders he met at various multilateral diplomatic venues expressed interest in Korea’s defense industry. He noted that there was particular interest in joint development, production, sales, and market expansion.
President Lee explained, “As the world moves toward a situation where trust is increasingly difficult, the market size will inevitably continue to grow. Unlike selling a single packet of ramen, joint production or technological development necessitates military and security cooperation. It is also a very effective means for expanding diplomatic relations in practical terms.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
