Korea-UAE Industry Ministers Meet Today
Discussing AI Data Centers, Joint Oil Stockpiling, and Full-Cycle Oil and Gas Cooperation
The government has begun expanding industrial cooperation with the United Arab Emirates (UAE), focusing on artificial intelligence (AI) data centers and full-cycle oil and gas collaboration. This move is a follow-up to the economic achievements reached at last month’s Korea-UAE summit, aiming to translate them into concrete business projects.
On December 18 in Seoul, Minister of Trade, Industry and Energy Kim Jeonggwan held a meeting with Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and CEO of ADNOC, to discuss the construction of AI data centers, joint oil stockpiling, and ways to expand cooperation in the oil and gas industries. This meeting was arranged in conjunction with Minister Al Jaber’s visit to Korea and follows the previous industry ministerial meeting held in Abu Dhabi in November.
The two sides first agreed to deepen advanced industrial cooperation, centering on “Stargate UAE,” a next-generation, large-scale AI infrastructure project in the UAE. This project aims to build an AI computing cluster with a total capacity of 5GW, led by UAE state-owned AI company G42, with participation from OpenAI and Oracle in operations. The first phase targets the operation of a 200MW AI cluster by 2026.
During the meeting, Minister Kim emphasized that Korea possesses competitive companies in semiconductors, data center construction and operation, cooling technology, engineering, procurement and construction (EPC), and power generation. He explained that these capabilities can make a substantial contribution to the UAE’s AI infrastructure development. He also requested detailed information about the Stargate UAE project and government-level support from the UAE to facilitate cooperation between companies from both countries.
In the energy sector, the Korea-UAE joint oil stockpiling project was highlighted as a representative achievement. Korea National Oil Corporation and ADNOC have been pursuing a joint stockpiling initiative totaling 4 million barrels since 2023. Korea has secured priority purchasing rights for stored crude oil in emergencies, while the UAE has established a strategic base to respond to Northeast Asian crude oil demand, creating a mutually beneficial structure. Both sides also agreed to continue discussions on expanding the scale of joint stockpiling to further strengthen energy supply chain stability.
Expanding cooperation across the entire oil and gas industry was also a key agenda item. Minister Kim explained that in the upstream sector, Korea National Oil Corporation and GS Energy are working with ADNOC on oil field development projects in the UAE, while in the downstream sector, large-scale projects in plant construction, petrochemicals, and shipbuilding are being pursued. In fact, SAMSUNG E&A is participating in a $1.71 billion methanol plant EPC project ordered by ADNOC, and Samsung Heavy Industries and Hanwha Ocean have secured a $2.07 billion LNG carrier project, with delivery scheduled by the second half of 2028.
The Ministry of Trade, Industry and Energy plans to continue high-level dialogue channels with the UAE going forward.
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