On Tuesday, President Sheikh Mohammed bin Zayed Al Nahyan of the United Arab Emirates arrived in South Korea accompanied by an honorary escort of four fighter jets. This is his first visit to Asia’s fourth-largest economy, and he will focus on security, business, investment, and energy programmes.
On Tuesday, Sheikh Mohammed met with CEOs from key South Korean businesses, including Samsung Electronics’ Jay Y. Lee, SK Group’s Chey Tae-won, and Hyundai Motor Group’s Euisun Chung.
On Wednesday, Sheikh Mohammed will meet with South Korean President Yoon Suk Yeol to talk about strengthening their “special strategic partnership,” according to Yoon’s office.
This visit comes after Yoon’s travels to Abu Dhabi last year when the UAE offered $30 billion in investments in South Korean sectors like nuclear power, defence, hydrogen, and solar energy.
South Korea, which aims to become the world’s fourth-largest weapons exporter by 2027, has secured substantial defence contracts, including a recent agreement with Poland. Earlier this year, South Korea strengthened its defence cooperation with Saudi Arabia.
South Korean military exports to the Middle East increased nearly tenfold between 2013 and 2022. The UAE state visit strengthened South Korean military stocks on Tuesday, with Hanwha Aerospace, LIG Nex1, and Korea Aerospace Industries all enjoying significant gains.
