Abu Dhabi identifies $2 billion in investment opportunities in South Korea
2023.05.22 01:19
© Reuters. The skyline of central Seoul is seen during a foggy day in Seoul March 4, 2015. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) – Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday.
The United Arab Emirates (UAE) pledged during South Korean President Yoon Suk Yeol’s visit to Abu Dhabi in January to invest up to $30 billion in the Asian country in sectors including energy and information technology.
“To date, Abu Dhabi organisations have helped identify approximately $2 billion of potential investment opportunities in Korea,” read the statement on Monday from Korea Development Bank and Mubadala Investment Company.
It did not elaborate on the potential investments.
The two agencies have been exploring follow-up investment since the summit.
