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[Abu Dhabi=Asia Economy Reporter Bae Kyunghwan] President Yoon Suk-yeol has taken on the role of "South Korea's salesperson."
During his state visit to the United Arab Emirates (UAE), President Yoon emphasized the government's economic policy centered on businesses at a dinner with domestic business leaders accompanying the tour on the 16th (local time), pledging to actively listen to the difficulties faced by companies. President Yoon said, "I approach this role not thinking of myself as a public official but as an employee in a company's sales or planning department," adding, "I will run the government with the determination that the economy comes first, second, and third."
President Yoon arrived about 20 minutes early that day. While it is customary for the president to appear at the venue just in time for external events due to security reasons, President Yoon spent the entire time shaking hands with businesspeople and expressing his gratitude.
President Yoon Suk-yeol, on a state visit to the United Arab Emirates (UAE), delivers an encouraging speech at a dinner meeting with accompanying businesspeople held at Conrad Abu Dhabi Etihad Towers on the afternoon of the 16th (local time).
[Photo by Yonhap News]
President Yoon highlighted that the $30 billion investment by UAE President Mohammed bin Zayed Nahyan was an achievement made by businesspeople. He stated that all diplomatic efforts would focus on the economy and carried out his schedule in Abu Dhabi alongside business leaders. He accompanied them not only to meetings between heads of state but also to nuclear power plant sites. He personally attended the 'Business Forum,' organized to concretize various economic cooperation projects between companies of both countries and to strengthen networking among businesspeople. At this forum, President Yoon said, "I hope the synergy between UAE's investments and South Korea's advanced industrial capabilities will create many achievements in the global market," directly engaging in sales efforts.
President Yoon's determination to focus entirely on the economy and exports has intensified since the end of last year. This stems from the judgment that the only solution to South Korea's worsening economy is 'exports.' He repeatedly conveyed the message that South Korea overcame the 1970s oil shock and the 2008 global financial crisis through exports.
The achievements in Abu Dhabi also stemmed from this approach. During President Yoon's stay, 48 memorandums of understanding (MOUs) were signed between the two countries. At the Korea-UAE Business Forum, President Yoon said, "We were able to secure new opportunities in all-encompassing fields beyond energy cooperation, including aerospace, healthcare, smart farms, and cultural content," and evaluated, "The current complex crisis can find a breakthrough here in the Middle East." He further explained, "The UAE President Mohammed and Saudi Crown Prince Mohammed bin Salman, whom I met, are promoting industrial diversification in preparation for a post-oil era without petroleum, opening new opportunities for us."
At a session evaluating the outcomes of economic diplomacy, President Yoon indirectly revealed his commitment to labor reform. He said, "We will achieve a proper cycle where jobs are created and wages rise naturally through companies generating profits, not through employment created by fiscal spending or wage increases made through struggles." He added, "The government and companies are one body and one team," and said, "I said I would carry companies that create many jobs on my back, and I will carry our companies so they can demonstrate their capabilities in the global market."
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On the 17th (local time), President Yoon will conclude his 3-night, 4-day schedule in the UAE and move to Switzerland to attend the World Economic Forum (WEF, Davos Forum). There, President Yoon is expected to continue efforts to attract investments from global companies.
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