Korea and the UAE to Pursue Entry in Nuclear Power Markets of Third Countries
President Lee Jae Myung, who is on a state visit to the United Arab Emirates (UAE), secured $35 billion in investments from the UAE through the Korea-UAE summit on Nov. 18 (local time), including $20 billion in artificial intelligence (AI) and $15 billion in the defense industry. The UAE’s investment across the full spectrum of K-culture, including K-pop and K-food, is set to expand from its current market value of $44.1 billion to $70.4 billion by 2030, an increase of $26.3 billion. In total, this means South Korea has attracted $61.3 billion in investments.
South Korea and the UAE also signed seven memoranda of understanding (MOUs) in advanced industries, including next-generation areas such as AI and space, biohealth, and intellectual property, as well as nuclear power. Notably, the defense sector, which was excluded from this round of MOUs, will be added through future negotiations, and the two countries agreed to make it the “starting point of a new 100 years.”
President Lee held a summit with UAE President Mohammed bin Zayed Al Nahyan at the presidential palace in Abu Dhabi, the capital of the UAE, and reached these agreements. On nuclear power, the two sides also decided to explore ways to jointly enter third-country markets through cooperation on next-generation nuclear technologies, including small modular reactors (SMRs). President Lee said, “For a 100-year alliance, comprehensive cooperation is needed in national defense, the defense industry, AI, nuclear power, health, and medicine,” and President Mohammed emphasized that “the area in which we want to broaden our horizons, including space and AI, is national defense.”
Kang Hoon-sik, chief presidential secretary, said at a briefing at the Abu Dhabi Media Center that “the economic achievements created in defense, AI data centers, energy, and K-culture are difficult even to quantify,” adding that “a joint technology service targeting the Middle East, Africa, and Europe will be established.” Through this MOU, South Korea has begun pursuing business opportunities such as building AI data centers and establishing service hubs in the UAE. In an interview with local media, President Lee also said, regarding the space sector, that the relationship “will evolve into an advanced ‘joint participation stage,’ including joint development and utilization of satellites and building ground infrastructure.”
출처 : Businesskorea(https://www.businesskorea.co.kr)