South Korea secures $30 billion UAE funding and vows to assist shore up provide chains at WEF

South Korea secures $30 billion UAE investment and vows to help shore up supply chains at WEF

Hong Kong/Seoul

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.

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates 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.