Yoon Departs for UAE and Davos with Economic Delegation... "Focus on Economic Diplomacy"

On the morning of the 14th, departure through Seongnam Seoul Airport... Yoon's 'Economic Sales' Diplomacy
Lunch with global company CEOs at Davos... Support for Expo Hosting Included

[Asia Economy Reporter Baek Kyunghwan] President Yoon Seok-yeol has embarked on his first overseas trip of the year, a 6-night, 8-day schedule. The itinerary includes visits to the United Arab Emirates (UAE) and Switzerland, focusing on economic diplomacy while extending his diplomatic efforts to the public sector.

On the 14th, President Yoon, accompanied by his wife Kim Geon-hee, departed for Abu Dhabi, UAE, from Seongnam Seoul Airport using the Air Force One, the presidential aircraft.

At the farewell ceremony, government officials such as Lee Sang-min, Minister of the Ministry of the Interior and Safety, Cho Hyun-dong, First Vice Minister of Foreign Affairs, and from the ruling party, Jeong Jin-seok, Emergency Committee Chairman of the People Power Party, attended. From the Presidential Office, Chief Secretary Kim Dae-gi and Senior Secretary for Political Affairs Lee Jin-bok were present. Also attending were Isa Al Salami, Charg? d'affaires of the UAE, and Miguel LaPlante, Charg? d'affaires of Switzerland.

President Yoon wore a black suit with a blue tie, while First Lady Kim Geon-hee was dressed in a black two-piece suit with beige shoes and a blue scarf.

Before boarding the presidential aircraft, President Yoon exchanged smiles and handshakes with Minister Lee and also shook hands and chatted with other farewell attendees.

[Image source=Yonhap News]

The Presidential Office defined this trip as 'economic diplomacy.' President Yoon also emphasized on Facebook before departure, "All schedules are focused on the economy," adding, "I will do my best to promote Korea's excellent investment environment and revitalize the economy through export expansion."

From the 14th to the 17th, President Yoon will make a state visit to the UAE at the invitation of UAE President Mohamed bin Zayed Al Nahyan, and from the 18th to the 19th, he will attend the World Economic Forum Annual Meeting (Davos Forum) held in Davos, Switzerland.

The UAE visit is by invitation of UAE President Mohamed bin Zayed Al Nahyan, marking the first state visit by a Korean head of state to the UAE since diplomatic relations were established in 1980. President Yoon’s choice of the UAE as his first overseas destination of the year and first visit to the Middle East reflects a diplomatic focus on economic revitalization and export expansion.

The Presidential Office stated, "Through this visit, we will significantly strengthen strategic cooperation with our brotherly nation UAE in four key areas: nuclear power, energy, investment, and defense industry," and expressed expectations that "the scope and depth of cooperation will be further expanded through multiple agreements."

An economic delegation composed of over 100 Korean companies will accompany the president. This is a measure to comprehensively support Korean companies’ entry into the UAE market. Cooperation plans with the UAE sovereign wealth fund will also be discussed during this process.

This economic delegation was formed on a private sector-led basis. About 70% of participating companies are mid-sized enterprises. In addition to traditional cooperation sectors such as energy, infrastructure, and construction, companies from promising fields of bilateral economic cooperation such as defense industry, game content, smart farms, tourism services, and consumer goods are also included.

President Yoon declared, "Through economic-centered summit diplomacy, we will strengthen cooperation in various fields and create an opportunity to overcome complex crises through exports and investment."

[Image source=Yonhap News]

On the 17th, President Yoon will arrive in Zurich, Switzerland, attend a meeting with the Korean community, and on the following day, the 18th, participate in the World Economic Forum (WEF, Davos Forum) held in Davos. Taking advantage of this forum, President Yoon will engage in various diplomatic schedules in economic security, sales, and public sectors, including efforts to attract global corporate investments, the bid for the 2030 Busan Expo, and dialogues with scientific scholars.

President Yoon is expected to begin active sales diplomacy from the first event of the Davos Forum on the 18th. A luncheon meeting with CEOs of major domestic and international global companies is planned.

Attendees will include Samsung Electronics Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Chairman Chung Eui-sun, LG Chairman Koo Kwang-mo, Lotte Chairman Shin Dong-bin, and Hanwha Vice Chairman Kim Dong-kwan. From abroad, CEOs of prominent global companies such as Intel, IBM, Qualcomm, and JP Morgan are expected to attend.

At the second event, the 'Korea Night' ceremony, President Yoon will promote the 'Busan Initiative,' a tailored international cooperation program aimed at supporting the bid for the 2030 Busan Expo, to influential figures gathered in Davos, while also promoting Korean culture.

On the second day of the Davos Forum, the 19th, President Yoon will deliver a keynote speech on the direction of international cooperation to overcome the global economic crisis. He explained, "I will present international cooperation and solidarity for strengthening supply chains, transitioning to clean energy, and establishing a digital order, and impress upon the international community Korea’s leading role and commitment."

As the final schedule, President Yoon will visit the Swiss Federal Institute of Technology Zurich to exchange views with scholars on quantum technology. The Zurich Institute of Technology is one of Europe’s top three physics research institutions, having produced world-renowned scientists such as Einstein.

After meeting with scholars at the Zurich Institute of Technology, President Yoon will return to Korea on the 21st, the first day of the Lunar New Year holiday.

[Image source=Yonhap News]

This content was produced with the assistance of AI translation services.