The Ministry of Industry, Trade and Energy of South Korea announced that “Minister Lee Chang Yang and Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates and CEO of the Abu Dhabi National Oil Company (ADNOC),… They have agreed to expand economic cooperation between the two countries, including new industries such as digital transformation, e-education and biotechnology, based on the successful implementation of major joint projects such as the Baraka nuclear power plant, oil field development and construction of energy infrastructure in the Emirates.

According to Yonhap, the UAE side has requested the interest and participation of South Korean companies in cutting-edge industries and technologies such as digital transformation, privacy protection and biotechnology. The parties also agreed to explore specific joint projects and hold a “strategic ministerial meeting” at the end of this year, activating 7 sub-sections of cooperation in accordance with the memorandum of understanding on industrial technology cooperation reached by South Korea and the UAE in March last year.