Further strengthening their ever-growing bilateral relations, the UAE and South Korea have recently signed a slew of agreements on medium and long-term cooperation in the fields of defense industries, technology, and hydrogen.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Moon Jae-in, President of the Republic of Korea, signed agreements and memorandums of understanding in Dubai, including the Asian nation's largest-ever arms export deal worth $3.5 billion.

A Qualitative Addition

As part of the deal, Korea will export mid range surface-to-air missiles to the UAE, which said there would be a “qualitative addition” to the country’s existing air defense capabilities. The system can reportedly engage up to six missiles at altitudes of up to 40 km and boasts a detection range of 100 km.

The two governments also entered into a collaboration on defense technologies, including the co-development of weapons systems. Moreover, the Abu Dhabi National Oil Company (ADNOC) signed several agreements, including a joint study agreement, on hydrogen or ammonia and ammonia cargo.

“The strategic partnership between the UAE and the Republic of Korea provides many opportunities to enhance cooperation in various fields, including the economy, trade, food security, health, culture, space, energy, and tourism. Prominent strategic projects such as the Barakah Nuclear Energy Plant reflect the depth of relations between the two nations,” the Prime Minister stated.

More on Trade between Korea and the UAE

Korea is the UAE’s top trade partner in the region, with the volume of commerce clocking to more than $9.4 billion in 2020. Of the total trade, non-oil commerce between the two countries touched $4.8 billion in 2020. In the first two quarters of 2021, the bilateral trade grew to more than $2 billion, according to government data.

Both countries are continuing to draw up plans to further expand cooperation in areas of common interest, including climate change mitigation and advanced technology, while exploring development and investment opportunities in priority sectors.

The two nations are also looking at new areas of engagement and opportunities for investment and growth in industry 4.0 technologies such as artificial intelligence and automation, next-generation medicine, agri-tech, and renewable energy.

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