For Implementation of UAE's US$30bn Investment in Korea
The South Korean government announced on Jan. 31 that it would build an investment cooperation platform with the UAE so that its US$30 billion investment South Korea recently attracted can be carried out effectively.
The platform will consist of a regular contact channel between the two countries and an investment cooperation committee and an investment cooperation network in South Korea as two private-public support providers.
The regular contact will be between Deputy Prime Minister Choo Kyung-ho and Khaldoon Al Mubarak, Chairman of the Executive Affairs Authority of Abu Dhabi. They are expected to have an offline meeting in the first half of this year before an information session for investors in the second half.
The committee is likely to include the deputy prime minister and relevant ministers along with experts in the private sector and the heads of the Financial Services Commission and the Korea Development Bank. It is expected to discuss issues every quarter.
In the network, the Korea Development Bank is likely to act as a coordinator for Korea Investment Corporation, Export-Import Bank of Korea, Korea Financial Investment Association, Korea Growth Investment Corporation, etc.