Executives from Korea's advanced technology, defense industry, and energy sectors will visit the United Arab Emirates (UAE) next week to discuss cooperation plans.
According to business circles on the 13th, The Federation of Korean Industries and KOTRA plan to hold the Korea-UAE Business Round Table (BRT) in the UAE on the 19th.
Samsung Electronics Chairman Lee Jae-yong and Hanwha Group Chairman Kim Dong-Kwan are said to be planning to attend the event. From SK Group, Ryu Young-sang, chairperson of the AI Committee of the SK SUPEX Council, will attend in place of Chairman Chey Tae-won. At Hyundai Motor Group, discussions are reportedly underway on whether Chairman Chung Eui-sun or Vice Chairman Jang Jae-hoon will attend.
This BRT is seen as a follow-up event after President Lee Jae-myung and UAE Abu Dhabi Crown Prince Khalid bin Mohamed Al Nahyan met at the Asia-Pacific Economic Cooperation (APEC) summit held in Gyeongju on the 31st and discussed ways to enhance bilateral cooperation.
At that meeting, President Lee and Crown Prince Khalid agreed that the two countries should expand their relationship into more strategic and future-oriented areas. The two nations, in particular, agreed to strengthen cooperation not only in defense and the defense industry and energy, but also in advanced technologies including artificial intelligence (AI).
Accordingly, in addition to Samsung Electronics, SK, Hyundai Motor, and Hanwha, LG Electronics, HD Hyundai, and Korea Electric Power Corporation are also said to be attending this BRT. Samyang Foods was included among the participating corporations as it sells its flagship product, Buldak spicy ramyeon, in the Middle East.
Meanwhile, Presidential Chief of Staff Kang Hoon-sik, appointed as the presidential special envoy for strategic economic cooperation, departed for Abu Dhabi on the afternoon of the day. Kang plans to meet with top-level officials and sovereign wealth funds decision-makers not only in the UAE but also in Saudi Arabia to discuss cooperation in areas such as AI, the defense industry, advanced industries, food and beverages, and cultural industries.