The South Korean government announced on January 31 that it would establish an investment cooperation platform with the UAE in order to effectively carry out the US$30 billion investment that South Korea recently attracted.
As two private-public support providers, the platform will include a regular contact channel between the two countries, as well as an investment cooperation committee and an investment cooperation network in South Korea. 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, according to Business Korea. 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.
Korea Development Bank is likely to serve as a coordinator for Korea Investment Corporation, Export-Import Bank of Korea, Korea Financial Investment Association, Korea Growth Investment Corporation, and others in the network.
