Main enterprise figures from South Korea and the United Arab Emirates (UAE) have met to strengthen their alliance in synthetic intelligence (AI) and superior industries, the place they’ve established cooperative ties, whereas additionally agreeing to increase their collaborative entrance to gentle energy sectors resembling Okay-pop and Okay-food, that are gaining prominence within the UAE.
The Federation of Korean Industries (FKI) co-hosted the Korea-UAE Enterprise Roundtable on Nov. 19 (native time) on the Emirates Palace Lodge in Abu Dhabi, UAE, underneath the theme “Future Partnership: Innovation, Sustainability, and Co-prosperity.”
The assembly was organized throughout President Lee Jae Myung’s state go to to the UAE and was attended by roughly 50 authorities officers and enterprise leaders from each nations. A major variety of key authorities and company leaders from each South Korea and the UAE have been current, with Crown Prince Khalid, who had visited Korea for the Gyeongju APEC Summit earlier this month, attending in individual.
From the UAE facet, members included representatives from the sovereign wealth fund Mubadala, the Emirates Nuclear Vitality Corp. (ENEC), the UAE’s protection business holding firm (EDGE), AMEA Energy, and LuLu Group. On the federal government facet, Minister of Funding Al Suwaidi and Minister of Overseas Commerce Al Zeyoudi have been current. From the Korean facet, prime enterprise leaders have been in full attendance, together with Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, Hanwha Group Vice Chairman Kim Dong-kwan, SK SUPEX Council AI Committee Chairman Yoo Younger-sang, LG Electronics CEO Cho Joo-wan, HD Hyundai Vice Chairman Cho Seok, CJ Vice Chairman Lee Seok-joon, and Samyang Meals Vice Chairman Kim Jeong-soo.
By this roundtable, enterprise and authorities leaders from either side mentioned potential cooperation in three essential areas: superior industries; protection, vitality, and infrastructure; and tradition (together with meals, magnificence, and content material). Within the superior industries sector, corporations resembling Samsung, Hyundai Motor, LG Electronics, SK, and Naver participated, expressing their dedication to constructing a future innovation hub centered on AI with the UAE. From the UAE facet, key establishments and firms together with Mubadala (sovereign wealth fund), AI firm Presight, startup innovation hub Hub71, and digital options supplier Nationwide Pulse Group participated to debate potential collaboration in future applied sciences resembling knowledge, AI, and sensible cities.
Following this, within the protection, vitality, and infrastructure sector, GS Vitality introduced instructions for cooperation in vitality transition tasks resembling clear hydrogen and low-carbon ammonia. Korea Electrical Energy Corp., constructing on the profitable completion of the Barakah nuclear energy plant in cooperation with the Emirates Nuclear Vitality Corp. (ENEC), expressed its intention to increase cooperation into next-generation energy sectors, together with mixed cycle gasoline generators, high-voltage direct present (HVDC), and vitality storage programs (ESS).
Whereas the protection and superior know-how industries are fields the place the 2 nations have an extended historical past of cooperation, cultural collaboration has solely lately gained consideration because of the rising recognition of Korean tradition within the UAE. The leaders of each nations confirmed consensus on increasing the entrance of cooperation into the cultural sector. Within the tradition and gentle energy sector, CJ launched the worldwide growth of Okay-content, citing examples resembling the primary Center Japanese KCON held in Abu Dhabi in 2016, and introduced a phased technique to increase cooperation with the UAE, together with not solely content material but additionally the distribution of Okay-food and sweetness merchandise. Samyang Meals introduced plans to develop domestically tailor-made merchandise, increase experiential content material, and set up a Halal-certified provide chain in response to the rising demand for Okay-food within the UAE.
