Korea, UAE economy ministers to meet in Seoul

They also agreed to discuss establishing a consultative channel to carry out the $30 billion investment plan that was discussed earlier during a summit between Korea and UAE presidents. [Photo by Lee Seung-hwan]

The economy ministers of South Korea and the United Arab Emirates (UAE) will meet in Seoul in the first half of this year to discuss investment.

According to the Ministry of Economy and Finance on Thursday, Deputy Prime Minister and Economy Minister Choo Kyung-ho and his counterpart Abdulla bin Touq Al Marri on Wednesday agreed to hold the 8th Korea-UAE Joint Economic Committee meeting in Seoul in the first half. The two met in Davos, Switzerland, on the sidelines of the World Economic Forum.

The Korea-UAE Joint Economic Committee meeting is the highest-level economic cooperation platform between the two countries. It will be the first time for Seoul to host the meeting in 5 years.

The two ministers also agreed to expand bilateral cooperation to advanced new industries like bio and aerospace and defense and cultural contents on top of energy and nuclear power.

They also agreed to discuss establishing a consultative channel to carry out the $30 billion investment plan that was discussed earlier during a summit between Korea and UAE presidents.