Korean business leaders to meet with UAE president

[Photo provided by each company]

The chiefs of South Korea’s major business groups, including Samsung Electronics Co. Executive Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, and Hyundai Motor Group Chairman Euisun Chung, will meet with United Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan on Tuesday.

According to sources from the business circle on Monday, Korean business leaders are scheduled to meet with President Mohammed on Tuesday during his two-day visit to Korea.

Mohammed’s visit marks the first of its kind by a UAE President. He also serves as the ruler of Abu Dhabi, the largest of the UAE’s seven emirates.

The business leaders are expected to discuss ways to enhance private sector cooperation.

Korean President Yoon Suk Yeol paid a state visit to the UAE in January 2023, the first by a Korean president.

At the time, the UAE upgraded its relationship with Korea and announced plans to invest $30 billion in Korean companies.

The UAE president‘s visit is expected to further solidify bilateral investment and cooperation in the fields of nuclear power, defense, and construction.

In 2009 President Mohammed supported Korea’s successful bid for the Barakah nuclear power plant project in the UAE when he was crown prince.

“There are numerous potential business projects with the UAE, so business leaders are showing a great interest in meeting with the UAE president,” said an official from the business circle.