Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, has paid an official visit to the Republic of Korea, to enhance cooperation in energy, industry, and advanced technologies.
During the visit, Dr. Al Jaber held high-level meetings with senior government officials and private-sector leaders, in the presence of Abdulla Saif Al Nuaimi, UAE Ambassador to Korea, and Hasan Jasem Nasser Al Nowais, Undersecretary of the Ministry of Industry and Advanced Technology.
Dr. Al Jaber met Korea’s Foreign Minister Cho Hyun and reaffirmed UAE’s commitment to strengthening their strategic partnership. The UAE minister highlighted Korea’s key role in energy security and industrial growth, rooted in trust-based sustainable cooperation.
Dr. Al Jaber also met with Kim Sung-hwan, Korean Minister of Climate, Energy & Environment, to expand partnerships in clean energy projects and low-carbon technologies. Further talks with Kim Jung-Kwan, Korean Minister of Trade, Industry and Resources, focused on advanced technology, future industries, and strengthening supply chains to boost industrial competitiveness and mutual economic interests.
During the visit, Dr. Al Jaber also met senior executives from government entities and major Korean companies, including Youngjin Jang, Chairman and President of Korea Trade Insurance Corporation (K-SURE), Yongsoo Huh, Vice Chairman and CEO of GS Energy, Saehong Hur, Vice Chairman and CEO of GS Caltex, Jongsoo Lee, CEO of SK E and S, Hojun Jang, CEO of SK TI, and Dong Kwan Kim, Vice Chairman of Hanwha Group.
The meetings explored expanding cooperation across the energy value chain, including crude oil storage and sales, gas and liquefied natural gas, hydrogen and renewable energy, as well as identifying new investment opportunities in both countries.
UAE-Korea relations
In 2024, bilateral trade between the nations reached approximately $22.9 billion, including petroleum products, while non-oil trade rose to $6.6 billion, up 15 percent year-on-year. The UAE is Korea’s second-largest trading partner in the GCC, accounting for 32 percent of Korean exports to the region, while Korea ranks as the UAE’s 28th largest global trading partner.
Over the past five years, non-oil trade has grown by more than 80 percent, driven by a 48 percent increase in imports, while exports rebounded by 35 percent after the pandemic, despite a 25 percent decline in 2024 compared with 2023.
