UAE To Invest $30 Billion In South Korea In Various Sectors Including Renewable Energy

alternative alternative energy clouds eco energy
Photo by Pixabay on Pexels.com

As part of their efforts to increase economic cooperation, the United Arab Emirates has announced that it will invest $30 billion in South Korea’s industries.


Yoon’s office stated that the investment decision was made by South Korea’s President Yoon Suk-yeol when he met with Sheikh Mohammed bin Zayed al-Nahyan in Abu Dhabi, during a four-day-long state visit.


Yoon’s office reported that the UAE president stated, “We have decided to invest $30 billion based on trust on South Korea, which keeps promises under all circumstances.”


Although details of the investment plan are not yet known, Yoon’s press secretary Kim Eun-hye stated in a statement that the investment would be directed at the nuclear power, defense, solar, and hydrogen industries.


Seoul’s finance ministry stated that the $30 billion investment would come from sovereign wealth funds, which include Mubadala Investment Company.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.