President Yoon Suk Yeol, who is currently on a state visit to the United Arab Emirates at the invitation of President Mohamed bin Zayed Al Nahyan, held a summit with President Mohamed bin Zayed Al Nahyan on January 15 at the presidential palace of the UAE, Qasr Al Watan. This is the 10th visit to the UAE by a Korean President, but the first state visit by a Korean President since the two countries established diplomatic relations in 1980.

Prior to their summit, the UAE side held an official outdoor welcoming ceremony to offer extraordinary hospitality to President Yoon. Attended by President Mohamed bin Zayed Al Nahyan as well as key UAE officials and federal government ministers, the welcoming ceremony was highlighted by a mounted honor guard escort, a 21-round gun salute and an airshow performed by the UAE Air Force’s aerobatics demonstration team.

Following the official welcoming ceremony, Presidents Yoon and Mohamed bin Zayed Al Nahyan attended consecutive one-on-one and expanded summits. The two leaders agreed to upgrade the special strategic partnership between Korea and the UAE to its highest level possible.

President Yoon said that he was pleased to make the UAE his first destination visited overseas in 2023 and hold talks with President Mohamed bin Zayed Al Nahyan. He went on to note that this first state visit by a Korean President demonstrates the strong determination of the two leaders to advance bilateral relations.

President Yoon also expressed his hope that the summit would serve as an important starting point to take the special strategic partnership between Korea and the UAE to new heights by reinforcing strategic bilateral cooperation not only in the four key areas to date – nuclear power, energy, investment and the defense industry – but also for future cooperation in such areas as new industries, healthcare and cultural and people-to-people exchanges.

Expressing his full agreement, President Mohamed bin Zayed Al Nahyan said he was very delighted that President Yoon became the first state guest since the UAE President took office. He also expressed his strong desire to further develop the strategic partnership with Korea.

In particular, President Mohamed bin Zayed Al Nahyan emphasized that the UAE is ready to significantly increase cooperation with Korea across all sectors, including the peaceful use of nuclear energy, new and renewable energy, the hydrogen economy, national defense technology, climate change response, space development, digital transformation, cutting-edge infrastructure, smart agriculture, food security and water resources.

President Yoon extended an invitation to the UAE President to visit Korea at his convenience within this year. President Mohamed bin Zayed Al Nahyan replied that it would bring his heart joy to visit Korea in the near future, saying that he already regards Korea as his second home.

A signing ceremony for multiple memoranda of understanding (MOUs) was held in the presence of both heads of state immediately after the Korea-UAE expanded summit.

A number of MOUs and contracts were signed between the two countries during President Yoon’s state visit. Notably – on the occasion of today’s summit – both countries signed a total of 13 documents in such fields as nuclear power, energy, investment, the defense industry and climate change, greatly expanding bilateral cooperation in the presence of both heads of state.

※ List of Memoranda of Understanding (details attached)

- Joint Declaration on Deepening Strategic Energy Ties through a Comprehensive Strategic Energy Partnership between the Government of the United Arab Emirates and the Government of the Republic of Korea

- MOU between the Defense Acquisition Program Administration of the Republic of Korea and the Tawazun Council of the United Arab Emirates Concerning Strategic Defense Industry Cooperation

- Oil Storage and Management Agreement between Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and Korea National Oil Corporation

- Comprehensive Strategic Energy Partnership Strategic Working Groups - Net Zero Acceleration Program

- MOU between Mubadala Investment Company PJSC and SK Group for Voluntary Carbon Market Asia Partnership

- MOU for International Joint Development on the Multirole Cargo Aircraft between Tawazun Council and Korea Aerospace Industries, LTD

- MOU Regarding Sovereign Investment Partnership between Mubadala Investment Company PJSC and Korea Development Bank

- MOU between the Ministry of Land, Infrastructure, and Transport of the Republic of Korea and the Ministry of Energy and Infrastructure of the United Arab Emirates for Cooperation in the Field of the Production, Storage, Transportation, and Use of Hydrogen in Cities

- Arrangement between the Ministry of Science and ICT of the Republic of Korea and the UAE Space Agency Regarding Cooperation in the Exploration and Use of Space for Peaceful Purposes, Signed on 31 January 2017

- MOU between the Ministry of SMEs and Startups of the Republic of Korea and the Ministry of Economy of the United Arab Emirates on Cooperation in the fields of Small and Medium Enterprises and Innovation

- MOU between the Ministry of Environment of the Republic of Korea and the Ministry of Energy and Infrastructure of the United Arab Emirates

- Administrative Arrangement between the Nuclear Safety and Security Commission of the Republic of Korea and the Federal Authority for Nuclear Regulation of the United Arab Emirates Pursuant to the Agreement between the Government of the United Arab Emirates and the Government of the

Republic of Korea for Cooperation in the Peaceful Uses of Nuclear Energy

- MOU on Financial Cooperation between Abu Dhabi Energy Company PJSC and the Export-Import Bank of Korea

※ Please note that the terms of the MOUs may change before being finalized.

Following the Korea-UAE summit, President Yoon attended a state luncheon hosted by President Mohamed bin Zayed Al Nahyan.

The UAE prepared a variety of lavish foods, including camel meat, which is said to be served to only the most revered guests. President Yoon expressed his gratitude to the UAE for its hospitality.

President Mohamed bin Zayed Al Nahyan said that although the UAE and Korea are geographically far apart, the two countries share the very similar cultures and customs of valuing family, respecting elders and treating guests hospitably. The President conveyed heartfelt holiday greetings to his brothers from Korea and warmly welcomed them to the UAE.

At this state luncheon, in addition to Korean government officials, a great number of Korean business leaders attended to fully support the Korean companies that are entering the UAE, including the Executive Chairman of Samsung Electronics; Chairman & CEO of Hyundai Motor Group; Chairman of SK Inc., the current Chairman of the Korea Chamber of Commerce and Industry; CEO & President of HD Hyundai; CEO of GS Energy; Chairman & CEO of Ssangyong E&C; Chairman of Hyosung Group; and the Head of ESG for Naver.