UAE's President Sheikh Mohamed bin Zayed Al Nahyan discussed with the President of South Korea, Yoon Suk Yeol, opportunities to develop strategic cooperation to broader horizons in various fields within the framework of the Special Strategic Partnership.
Sheikh Mohammed met with the President of Korea, who is on a multi-day visit to the UAE, his first visit since assuming his presidential duties. They also engaged in an in-depth exchange of views on regional and international issues.
They discussed various tracks of cooperation and developments in investment, economic, scientific, cultural, and advanced technology, in addition to renewable energy and other vital areas of interest for both countries.
Sheikh Mohammed said UAE and Korea have a close strategic partnership that extended back over forty years and rose to a unique strategic alliance in 2018. He lauded the level of collaboration between the two countries.
He referred to one of the most important strategic development projects, the peaceful nuclear energy production project at the Barakah plant.
The UAE aims to expand and strengthen its relations with Korea during the coming period in areas of common interest, including traditional energy, clean energy, economy, investment, defense technology, and others.
For his part, the Korean President stressed the importance of boosting strategic cooperation in key areas, including peaceful nuclear energy, energy, investment, and defense industries, to develop prospects for bilateral relations.
The two parties witnessed the exchange and announcement of several agreements and memorandums of understanding (MoU) to develop cooperation in various fields considering the distinguished strategic ties binding the two countries.
The agreements and MoUs announced included an MoU in hydrogen energy use in cities, its production, transmission, and storage between the UAE Ministry of Energy and Infrastructure and the Korean Ministry of Land, Infrastructure, and Transport.
An MoU was exchanged between the UAE Space Agency and Korea's Ministry of Science and Information and Communications Technology regarding the amendment of an MoU signed in January 2017 regarding cooperation in space exploration and its use for peaceful purposes.
The two countries also signed an MoU on cooperation in water resources between the UAE Ministry of Energy and Infrastructure and the Korean Ministry of Environment.
It also included implementation arrangements under the agreement concluded between the two governments for cooperation in the peaceful uses of nuclear energy.
The Mubadala Investment Company and the Korea Development Bank signed an MoU regarding the "sovereign investment partnership" and another MoU on financial cooperation between TAQA and the Export-Import Bank of Korea.
The meetings also witnessed a joint declaration between the two governments regarding enhancing cooperation in energy through a strategic energy partnership.
They also signed agreements on strategic cooperation for the defense industry and cooperation in crude oil storage for "strategic and commercial storage."
The two parties exchanged MoUs on establishing joint strategic working groups for the Carbon Neutrality Acceleration Program and another regarding the voluntary partnership in carbon markets in Asia.
