UAE pledges to invest $30 billion in South Korea -Yoon's office
Details of the investment plan were not immediately known but Yoon's press secretary, Kim Eun-hye, said in a statement the investment will be directed at nuclear power, defence, hydrogen and solar energy industries, among others. Seoul's finance ministry said the $30 billion investment would be led by sovereign wealth funds, including Mubadala Investment Company.

The United Arab Emirates (UAE) has decided to invest $30 billion in South Korea's industries, South Korea's presidential office said on Sunday, as the two countries seek to expand economic cooperation. The investment decision was announced as South Korea's President Yoon Suk-yeol met his UAE counterpart, Sheikh Mohammed bin Zayed al-Nahyan, in Abu Dhabi during a four-day state visit, Yoon's office said.
"We have decided a $30 billion investment based on the trust on South Korea which keeps promises under any circumstances," Yoon's office quoted the UAE president as saying. Details of the investment plan were not immediately known but Yoon's press secretary, Kim Eun-hye, said in a statement the investment will be directed at nuclear power, defence, hydrogen and solar energy industries, among others.
Seoul's finance ministry said the $30 billion investment would be led by sovereign wealth funds, including Mubadala Investment Company. At their summit, the two countries also signed 13 memorandums of understanding, including an agreement between the state-run Korea Development Bank and the Abu Dhabi state fund Mubadala to cooperate for investment in South Korean companies.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Japan, South Korea arranging Yoon's Japan visit around March 16-17 - Kyodo
South Korea's Yoon says cooperation with Japan will contribute to global peace, prosperity
Biden to host South Korean leader Yoon for 2nd state visit
Biden to host S.Korea's Yoon for state visit April 26 -White House
Yoon: Forced labour plan crucial for better ties with Japan