Skip to content

South Korea-UAE cooperation will assist world power and sensible metropolis markets, says President Yoon

Abu Dhabi: South Korea-UAE cooperation in clear power will assist stabilize world power market, Yoon Suk Yeol, President of the Republic of Korea, stated, including that each international locations collectively may contribute to world sensible market as properly.

South Korean President Yoon, who arrived on a state go to to UAE on Saturday, detailed on bilateral cooperation in economic system, local weather motion, power transition, hydrogen and sensible farms, within the context of Abu Dhabi Sustainability Week (ASDW), an annual world occasion for accelerating the world’s sustainable growth; and COP28.

“We are going to assist the success of the UAE’s internet hosting of COP 28 [the UN Climate Conference to be held in Dubai] on the finish of this 12 months and work collectively in that regard,” he pressured.

In an unique interview with Gulf InformationPresident Yoon stated that bilateral talks throughout his go to would deal with 4 key areas similar to nuclear energy crops, power, funding, and protection business.

Emphasizing that infrastructure cooperation in large-scale development is the driving pressure behind financial growth of South Korea and the UAE, President Yoon revealed that “roughly 30 per cent of the abroad orders our development corporations acquired in 2022 have been from the Center East.”

Relations with the UAE and different Gulf international locations are essential for South Korea’s power safety with over 50 per cent of its oil imports coming from the Gulf, stated the President who additionally detailed concerning the ongoing talks on Free Commerce Settlement (FTA) with Gulf Cooperation Council (GCC).

Would you want to speak about your expectations about this primary state go to to the UAE? Since your go to underscores Korea’s keenness to strengthen and develop the prevailing bilateral relations, would you want to speak concerning the potential new areas of cooperation between the 2 international locations?

President Yoon: President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and I took workplace at roughly the identical time in Could final 12 months. Since our inaugurations, now we have despatched particular envoys to one another’s nation and exchanged letters, affirming our dedication to advance bilateral relations.

I’m more than happy that I’ll lastly meet with President Sheikh Mohamed in particular person throughout my go to. I stay up for two of us constructing a stable friendship and belief.

My go to carries a particular which means, specifically as a result of will probably be the primary state go to because the UAE and the Republic of Korea established diplomatic relations in 1980.

Our discussions through the summit will deal with the best way to improve strategic cooperation in 4 key areas: nuclear energy crops, power, funding, and protection business.

Additionally on the desk are methods to elicit forward-looking cooperation throughout all sectors the place our two international locations can create synergy, together with local weather change responses, science and expertise, future new industries, and well being care in addition to cultural and people-to-people exchanges . The potential for Korea-UAE cooperation will probably be substantial, and doorways for bilateral cooperation will probably be left huge open in all accessible areas.

As I’m accompanied by an enormous delegation of over 100 Korean enterprise leaders, along with key authorities officers, I’m satisfied that the scheduled summit will function an necessary alternative to supply important outcomes that additional advance bilateral relations and to take the connection between our two international locations to a brand new degree.

You might be anticipated to attend the Abu Dhabi Sustainability Week that’s being held forward of COP 28, the UN Local weather Convention to be held within the UAE later this 12 months. Are you able to please speak concerning the significance of the ADSW and COP 28 within the current world context and potential Korea-UAE cooperation in local weather motion?

This 12 months’s COP28 will, for the primary time, assess the progress of joint efforts to succeed in the Paris Settlement Targets by conducting the worldwide stocktake (GST). It is going to mark a vital turning level for additional strengthening of local weather motion worldwide.

Particularly, the UAE, a number one oil producer, grew to become the primary nation within the Center East to declare its carbon neutrality aim and is pursuing a transition to a clean-energy-focused financial and industrial construction. On this regard, it’s extremely symbolic that the UAE is internet hosting COP28 this 12 months.

The ADSW has been held since 2008 as a venue to collect the knowledge of consultants on expertise growth and worldwide cooperation from world wide for the transition to wash power. Subsequently, the occasion is anticipated to be a bridgehead that secures the success of COP28.

Korea and the UAE have maintained a long-standing strategic partnership, and I intend to make use of my upcoming go to as a possibility to develop our international locations’ pleasant cooperation to embody our efforts to attain carbon neutrality and strengthen local weather motion among the many world’s nations.

The leap ahead in bilateral cooperation that our international locations noticed with the Barakah Nuclear Energy Plant will probably be expanded to all sectors associated to a good and sustainable clear power transition, together with renewable power, hydrogen, and carbon seize, utilization, and storage (CCUS). In doing so, we’ll collectively improve the steadiness of the power market in each international locations and throughout the globe in addition to establish new financial alternatives.

As well as, when the UAE’s expertise in setting up and working Masdar Metropolis [one of the world’s most sustainable urban communities] is mixed with Korea’s world-class IT, infrastructure constructing and inexperienced expertise, our two international locations are anticipated to supply important achievements within the world sensible metropolis market.

How do you view the strategic significance of Korea’s relations with the Arabian Gulf international locations, particularly the particular strategic partnership with the UAE?

Korea and the Gulf nations have skilled many circumstances of mutually useful cooperation centered on power, development, and infrastructure.

Korea is likely one of the world’s prime 5 crude oil importers. With over 50 per cent of our imported oil coming from the Gulf, relations with Gulf international locations are of huge significance by way of our power safety.

Moreover, Korean companies have made necessary contributions to the enlargement of nationwide infrastructure within the Center East. Roughly 30 per cent of the abroad orders our development corporations acquired in 2022 have been from the Center East. Infrastructure cooperation, like in large-scale development, might be seen because the driving pressure behind our two international locations’ financial growth.

Lately, Gulf international locations have been growing future industries in an lively and enterprising method to organize for the post-oil period. Given Korea’s world-class technological prowess, the expertise and know-how that we accrued finishing up tasks across the Gulf and the frequent imaginative and prescient we share with Gulf international locations, each side are optimum companions for one another.

Beginning with the development of the Barakah Nuclear Energy Plant, the UAE is a key companion in future industries, together with area, healthcare and medical providers, sensible farms, and hydrogen.

Korea is strengthening its relations with regional blocs similar to ASEAN, which is accentuated by free commerce agreements (FTAs). How necessary are the continued negotiations on the Korea-Gulf Cooperation Council FTA?

Korea and the GCC agreed in 2007 to push for an FTA. The negotiations are at present ongoing with a view to reaching an settlement.

As necessary companions by way of financial cooperation, Korea and the GCC have constructed a long-standing cooperative relationship in such areas as power and development. Extra just lately, the scope of our cooperation has expanded to incorporate superior industries, protection business, well being care, agriculture, and tradition.

I consider the Korea-GCC FTA, if concluded, will set up a complete authorized basis to assist bilateral financial and commerce relations, making huge contributions to not solely increasing commerce and funding between our two international locations but additionally diversifying the methods by which we cooperate.

Most of all, I hope that the Korea-GCC FTA will turn out to be a forward-looking settlement that contributes to our two international locations’ joint endeavors of responding to new challenges together with local weather change, provide chain crises and the digital transition in addition to technological and industrial cooperation.

Korea is among the many few international locations on the planet with which the UAE desires to develop commerce relations as a part of the Emirates’ “Initiatives of the 50” initiative. On this context, how do you assess the progress in bilateral financial and commerce ties and future prospects?

Constructing upon our present cooperative relations in nuclear energy plant, our two international locations have been collaborating throughout various fields together with protection business, agriculture, well being and medical providers and tradition. Wanting forward, we envision to strengthen cooperation remarkably in area, digital and new industries.

I want to see this go to assist carry financial cooperation between Korea and the UAE to a better degree.

What concerning the prospects of Korea-UAE cooperation in regional and worldwide problems with mutual concern?

Peace and stability within the Center East and on the Korean Peninsula are necessary elements for world peace and prosperity.

The UAE is advancing quickly beneath future-oriented management and growing its contribution to regional and worldwide points. Korea can be pursuing accountable overseas insurance policies commensurate with our modified standing beneath the imaginative and prescient of changing into a worldwide pivotal state.

On this regard, there’s a nice room for Korea and the UAE to develop our cooperation within the area and world neighborhood.

The UAE has been actively working as a non-permanent member of the UN Safety Council in 2022-23. Korea can be looking for a non-permanent member seat on the UN Safety Council in 2024-25, and we’ll work collectively extra carefully on the worldwide stage, together with on the United Nations.

Furthermore, each side have appreciable room to work collectively based mostly on a typical stance in response to such world challenges as local weather change, humanitarian assist and world financial restoration.

We are going to assist the success of the UAE’s internet hosting of COP 28 on the finish of this 12 months and work collectively in that regard.

How do you view the significance of cultural and people-to-people relations and the contribution of the Korean expatriate neighborhood within the UAE on this regard?

Cultural and people-to-people exchanges between Korea and the UAE have supplied a stable basis for the development of Korea-UAE relations. I’m happy that this deepening relationship has helped us shut the emotional and cultural distances between our two peoples.

I’m particularly comfortable to listen to that world Okay-Pop stars are in style with the youth of the UAE, who’ve joined within the Hallyu wave sweeping internationally and that Emiratis are displaying nice curiosity in Okay-dramas, video games, and different content material.

Amid the development increase within the Seventies, the UAE’s Korean neighborhood started to type in tandem with development of the Mussafah Bridge in Abu Dhabi and different infrastructure tasks. At this time, this harmonious neighborhood of execs from numerous fields, starting from scientists, physicians, nurses, and flight attendants to entrepreneurs, contributes to the nation’s social and financial development.

The dedication and exemplary lives of those Koreans have served because the bedrock for mutual belief and respect between Korea and the UAE in addition to soil for rising the friendship that exists between our two brotherly international locations.

The UAE is residence to the one Korean Cultural Middle within the Center East. The Korean Authorities will redouble its efforts to make sure that the Middle performs a pivotal position in selling extra cultural exchanges and cooperation in addition to people-to-people exchanges.

Leave a Reply

Your email address will not be published. Required fields are marked *