Sharjah 24 – WAM: Korea-UAE cooperation in clean energy will help stabilise global energy market, Yoon Suk Yeol, President of the Republic of Korea, said, adding that both countries together could contribute to global smart market as well.
In statements published by Al Ittihad newspaper, during his current state visit to the UAE, the Korean President detailed on bilateral cooperation in economy, climate action, energy transition, hydrogen and smart farms, in the context of Abu Dhabi Sustainability Week (ASDW), an annual global event for accelerating the world’s sustainable development; and COP 28.
“We will support the success of the UAE’s hosting of COP 28 [the UN Climate Conference to be held in Dubai] at the end of this year and work together in that regard,” he stressed.
He said bilateral talks during his visit focus on four key areas such as nuclear power plants, energy, investment, and defence industry.
Emphasising that infrastructure cooperation in large-scale construction is the driving force behind economic development of Korea and the UAE, President Yoon revealed that “approximately 30 percent of the overseas orders our construction companies received in 2022 were from the Middle East.”
Relations with the UAE and other Gulf countries are crucial for Korea’s energy security with over 50 percent of its oil imports coming from the Gulf, said the President who also detailed about the ongoing talks on Free Trade Agreement (FTA) with Gulf Cooperation Council (GCC).
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