Sharjah24: Sharjah-Korea business ties have received a fresh boost with the Sharjah Research, Technology, and Innovation Park (SRTI Park) sealing a partnership with the Jeonbuk Business Agency (JBBA) to foster stronger mutual technological collaboration.
During a visit to SRTI Park, a delegation from the Jeonbuk Business Agency -- a government agency that provides various services to small and medium-sized businesses -- discussed joint collaboration avenues and signed a Memorandum of Understanding (MOU) aimed at enhancing collaboration in technology, research, and development.
This MoU aligns with SRTI Park’s mission to build international partnerships that drive innovation and economic growth in Sharjah and the wider UAE.
The delegation, which included representatives from JBBA and key Korean companies, met with SRTI Park executives to explore opportunities for knowledge exchange and collaboration on advanced technology projects. Both parties agreed to focus on fostering joint research in sustainable technology, mobility solutions, and advanced manufacturing, building a solid foundation for future initiatives.
Hussain Al Mahmoudi, CEO of SRTI Park, commented, “This MOU with the Jeonbuk Business Agency marks a significant step in our journey of fostering a strong, dynamic relationship between the UAE and South Korea. By leveraging each other’s strengths, we aim to support innovation and the exchange of knowledge, particularly in fields such as advanced technology and sustainability. This partnership reflects our commitment to positioning Sharjah as a global hub for R&D, benefitting from the expertise of Korea’s pioneering industries.”
“Korea’s Jeonbuk region and Sharjah share common focus areas of Education, Innovation and Technology development. This MOU will facilitate partnership between our innovation ecosystem and entrepreneurship landscape.”
The visit included a tour of SRTI Park's facilities, such as Soilab (Sharjah Open Innovation Lab) and the Additive Manufacturing Center, giving the Korean delegation insights into the park's capabilities and ongoing projects in sustainability, AI, and green technology. The MOU sets the stage for collaborative efforts that aim to accelerate the adoption of innovative solutions in both regions, emphasizing sustainable development and tech-driven progress.
According to the terms of the MoU, JBBA will identify Jeonbuk’s tech startups and SMEs interested in setting up operations in the UAE, with a focus on foodtech and agritech; biotechnology and healthcare; and energy transition.
The agreement is part of SRTI Park’s broader strategy to collaborate with international partners to promote R&D and support the UAE’s vision for a sustainable, technology-driven future, reinforcing supply chains and facilitating direct investment flows.
Bilateral ties between the UAE and Korea received a shot in the arm when the two countries signed the Comprehensive Economic Partnership Agreement (Cepa) at a summit in Seoul in May 2024, with a pledge to cut import duties and forge closer business and investment ties. Trade volumes between the two countries reached $20.8 billion in 2023, with the UAE ranking as South Korea’s 16th major trading partner.
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