SoKor Scores $30-B Investment Pledge From UAE

South Korea’s leader is capping off a whirlwind week, after securing tens of billions of dollars in investment from the Middle East and vowing to have his country play a more important role in revitalizing international supply chains, Michelle Toh, Yoonjung Seo and Jake Kwon reported for CNN late.

Photo Insert: On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates (UAE) had pledged a staggering $30 billion in investment in the Asian country.

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates (UAE) had pledged a staggering $30 billion in investment in the Asian country.

The news came after the leaders of the two nations held talks in Abu Dhabi on Sunday, in a landmark trip that marked the first-ever state visit to the UAE by a South Korean president, according to a statement from Yoon’s office.

The investment aims to increase cooperation in the fields of nuclear, hydrogen and solar energy, as well as defense, along with an agreement to form a “special strategic partnership” at the highest level, the statement said.

Yoon was joined in the region by a delegation of Korean tycoons, including the billionaire leaders of Samsung, Hyundai Motors and SK Group. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office.

During the four-day visit, two dozen agreements worth $6.1 billion covering nuclear power, defense, and green energy were signed by businesses from the two sides, according to the South Korean government.

Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products.

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