Seoul: Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, conducted an official visit to the Republic of Korea to enhance collaboration in energy, industry, and advanced technologies. The visit included high-level meetings with senior government officials and private-sector leaders, alongside UAE Ambassador to Korea, Abdulla Saif Al Nuaimi, and Hasan Jasem Nasser Al Nowais, Undersecretary of the Ministry of Industry and Advanced Technology.
According to Emirates News Agency, Dr. Al Jaber met with Cho Hyun, Minister of Foreign Affairs, to reaffirm the UAE's commitment to its strategic partnership with Korea. He highlighted Korea's key role in ensuring energy security and fostering industrial growth. Dr. Al Jaber emphasized the UAE's focus on sustainable development partnerships built on trust and cooperation.
In discussions with Kim Sung-hwan, Minister of Climate, Energy and Environment, Dr. Al Jaber sought to expand partnerships in clean energy and low-carbon technologies. Meetings with Kim Jung-Kwan, Minister of Trade, Industry and Resources, centered on advanced technology, future industries, and supply chain enhancements to boost industrial competitiveness.
Dr. Al Jaber also engaged with senior executives from Korean government entities and major companies, such as Korea Trade Insurance Corporation, GS Energy, GS Caltex, SK E and S, SK TI, and Hanwha Group. The discussions aimed at expanding cooperation in the energy sector, including crude oil storage, gas, hydrogen, renewable energy, and identifying investment opportunities.
In 2024, trade between the UAE and Korea reached approximately $22.9 billion, with non-oil trade at $6.6 billion, a 15 percent increase from 2023. The UAE is Korea's second-largest trading partner in the GCC, accounting for 32 percent of Korean exports to the region, while Korea is the UAE's 28th largest global trading partner. Over the past five years, non-oil trade has grown by over 80 percent, driven by a 48 percent rise in imports, although exports saw a 25 percent decline in 2024 compared to 2023.