The UAE-South Korea trade relationship has grown rapidly, with non-oil bilateral trade hitting $5.3 billion in 2023. This growth cements the UAE’s position as South Korea’s second-largest trade partner in the Arab world. As the UAE diversifies its economy, shifting its focus towards non-oil sectors like technology and renewable energy, South Korea’s expertise in these fields is seen as a vital factor in future collaborations.
The UAE’s strategic geographic location, as a global business hub, offers South Korea access to new markets in the Middle East, North Africa, and Asia. With the UAE’s ambitious plans to become a leader in innovation and sustainability, particularly in sectors such as artificial intelligence and clean energy, South Korea's technological capabilities align well with these objectives. Yoon’s visit is seen as an opportunity to enhance collaborations in these sectors, with a focus on joint ventures, investments, and knowledge sharing.
The two countries are also deepening their collaboration in the space sector. South Korea has been expanding its space exploration programme, and the UAE has shown a growing interest in space-related initiatives. A prime example of this cooperation is the UAE’s Hope Probe, which entered Mars orbit in 2021, and South Korea’s lunar missions. Both nations are keen on developing joint projects and sharing expertise to achieve mutual objectives in space exploration. This includes joint satellite launches, sharing research data, and enhancing space research facilities.
Energy is another area where both countries see opportunities for further collaboration. The UAE’s leadership in the development of renewable energy projects, such as the Noor Abu Dhabi solar plant, presents an avenue for South Korean firms to expand their footprint in the region. Furthermore, South Korea’s investments in nuclear energy technology have the potential to bolster the UAE’s nuclear energy ambitions, notably the Barakah Nuclear Power Plant.
Infrastructure development remains a key priority, as the UAE continues to modernise its infrastructure to accommodate its rapidly growing population and economy. South Korea, with its world-class engineering and construction companies, is expected to play a significant role in supporting major UAE infrastructure projects. Yoon’s visit is expected to lead to the signing of new agreements and memoranda of understanding, particularly in areas such as construction, urban development, and logistics.
The visit also has a political dimension, as both nations seek to strengthen their diplomatic ties. Yoon’s trip is being seen as an effort to deepen the long-standing friendship and cooperation between the two countries, with both governments recognising the value of a solid strategic partnership in an increasingly complex geopolitical landscape. Diplomatic relations between the UAE and South Korea were established in 1980, and since then, both nations have built strong ties in various fields, including trade, culture, education, and tourism.
Yoon’s visit comes at a time when global trade dynamics are shifting, and both countries are keen to bolster their economic resilience by diversifying partnerships and strengthening international collaborations. As part of his itinerary, Yoon will meet with key leaders in the UAE to discuss a range of topics, including energy, sustainability, technology, and economic development. This marks another chapter in the ongoing development of UAE-South Korea relations, with both nations poised to benefit from increased cooperation and investment.
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