Yoon Arrives at Seoul Airport After Completing 'Sales Diplomacy'

6 Nights and 8 Days Tour of UAE and Switzerland... Securing 30 Billion Dollars and Meeting Global CEOs

[Asia Economy Reporter Baek Kyunghwan] President Yoon Seok-yeol returned home on the first day of the Lunar New Year holiday, the 21st, after an 8-day, 6-night tour of the United Arab Emirates (UAE) and Switzerland. During this trip, President Yoon actively engaged in 'sales diplomacy' and achieved tangible results, but after the holiday, he will also need to address various domestic issues.

The Air Force One carrying President Yoon and the First Lady departed from Zurich International Airport in Switzerland the previous day and arrived at Seoul Airport in Seongnam, Gyeonggi Province, that morning. Chief of Staff to the President Kim Dae-gi, Minister of the Interior and Safety Lee Sang-min, People Power Party Emergency Committee Chairman Chung Jin-seok, and People Power Party Floor Leader Joo Ho-young were among those who welcomed the presidential couple.

President Yoon Suk-yeol and First Lady Kim Keon-hee, returning from a 6-night, 8-day tour of the UAE (United Arab Emirates) and Switzerland, are seen greeting as they disembark from Air Force One at Seongnam Seoul Airport on the 21st.
[Photo by Yonhap News]

As a state guest, President Yoon secured $30 billion (approximately 40 trillion KRW) in investment commitments from the UAE and took the lead in 'Korea Sales' by meeting global CEOs in Switzerland. The Blue House is focusing not only on the direct outcomes but also on laying the groundwork for economic cooperation.

This was the first time President Yoon visited the UAE as a state guest since the establishment of diplomatic relations between the two countries. The UAE also accorded special treatment by escorting Air Force One with four fighter jets and illuminating the presidential palace roof with red and blue lights symbolizing the Taegeuk pattern. During the summit on the 15th between President Yoon and UAE President Mohammed bin Zayed Al Nahyan, the UAE announced a $30 billion investment. This was explicitly confirmed in the joint statement between Korea and the UAE, reflecting trust in the Korean economy. The $30 billion investment from the UAE is the largest investment ever between two countries.

Various MOUs were also signed. A total of 48 MOUs were concluded through the summit and the Korea-UAE Business Forum. Under the presence of Presidents Yoon and Mohammed, 13 MOUs were signed in fields including nuclear power, energy, investment, defense industry, and climate change. At the business forum, which was attended by a large economic delegation, an additional 24 MOUs were signed. There were also 11 MOUs signed individually.

One of the highlights of the UAE visit was President Yoon and President Mohammed's joint visit to the Barakah Nuclear Power Plant. President Yoon's visit to the nuclear plant is widely seen as having effectively resolved the uncomfortable relations with the UAE caused by the previous administration's nuclear phase-out policy.

Following the UAE visit, President Yoon directly engaged in sales efforts targeting companies during his Switzerland tour. On the 18th, at an investment declaration ceremony held at a hotel in Davos attended by President Yoon, Vestas decided to invest $300 million (approximately 370 billion KRW) in Korea. Vestas, the world's number one wind turbine manufacturer, plans to relocate its Asia-Pacific regional headquarters to Korea, making it a key hub in the Asia-Pacific region, which is the core of this investment.

During one-on-one meetings with the Minister of Trade, Industry and Energy, discussions were held with senior executives of Merck Life Science, a leading German advanced science and technology company, and Novartis, a Swiss pharmaceutical company, regarding investment cooperation in Korea. The investment intentions proposed by Merck Life Science and Novartis are reported to be around $500 million (approximately 615 billion KRW). The Blue House judges that the total $800 million investment and cooperation outcomes from the investment declaration ceremony and investment meetings will lead to export expansion and job creation in future industries.

The Blue House is paying attention to the fact that various forms of investment between governments and companies are taking place and tangible results are emerging from President Yoon's trip. Notably, in Davos, 'Team Korea' led investments by global companies amounting to 1 trillion KRW. In fact, President Yoon reiterated the same stance during the 'Lunch with Global CEOs' held in Davos, repeatedly requesting investment in Korea.

However, President Yoon's remarks related to Iran at the 'Ark Unit' he visited during the UAE state visit remain controversial. The Blue House stated, "There seems to have been a misunderstanding on the Iranian side," and added, "Misunderstandings can be resolved, and we have no intention of exacerbating misunderstandings to create difficulties," but the chill in bilateral relations remains.

The aftermath of the motion to dismiss former lawmaker Na Kyung-won continues. Just before the trip, on the 13th, President Yoon dismissed former lawmaker Na Kyung-won from her positions as Vice Chair of the Low Birthrate and Aging Society Committee and Climate Rights Ambassador after she mentioned a 'Hungarian-style' birth promotion policy without consulting the Blue House or the government. However, former lawmaker Na posted on Facebook, "I believe the dismissal was not the president's intention," and Chief of Staff Kim sent an unusual notice to the presidential press corps rebutting this, stating, "The dismissal was a decision based on the president's accurate understanding of the facts."

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