Trade Minister Kim Jung-kwan, left, poses for a photograph after the Korea Commerce Insurance coverage indicators a memorandum of understanding for enterprise cooperation with Abu Dhabi Nationwide Oil throughout a enterprise roundtable held by Korea and the United Arab Emirates in Abu Dhabi, Nov. 19. Courtesy of the Ministry of Commerce, business and Power
The Korea Commerce Insurance coverage (Okay-SURE) mentioned Monday it plans to offer monetary help price $2 billion to Abu Dhabi Nationwide Oil (ADNOC), the United Arab Emirates’ largest petroleum firm, to assist Korean corporations’ enterprise initiatives within the Center Japanese nation.
The monetary help shall be offered in return for ADNOC’s efforts to safe challenge orders for Korean corporations and buy Korean-made supplies and gear, Okay-SURE mentioned.
The deal comes as a follow-up measure to a memorandum of understanding (MOU) signed between the 2 sides for strategic enterprise cooperation throughout President Lee Jae Myung’s go to to the Center Japanese nation final month.
Below the MOU, the 2 sides will cooperate in facilitating exports of Korean items and companies for synthetic intelligence, renewable power and energy grids to the Center East, in accordance with Okay-SURE.
