Kang Hoonshik: "Korea and UAE to Jointly Pursue 65 Billion Dollar Projects, Including 35 Billion Dollars in Defense"

Chief of Staff Kang Hoonshik Returns from UAE on 26th
Full Life-Cycle Defense Cooperation from Arms Deals to Design
Restructuring of Existing 30 Billion Dollar Investment in AI, Nuclear Power, and More

Kang Hoonshik, Chief of Staff to President Lee Jaemyung, who visited the United Arab Emirates (UAE) as Special Envoy for Strategic Economic Cooperation, answered reporters' questions at Incheon International Airport Terminal 1 on the 26th. Yonhap News

Presidential Chief of Staff Kang Hoonshik said on the 26th that South Korea and the United Arab Emirates (UAE) had agreed to pursue cooperation projects worth more than 65 billion dollars. The two countries will push ahead with cooperation projects worth over 35 billion dollars in the defense industry alone, and will also restructure the previously pledged 30 billion dollar investment to align it with newly designated strategic areas of cooperation.

Chief of Staff Kang made this announcement to reporters at Incheon International Airport immediately after returning from the UAE that afternoon. He said, "The biggest achievement is confirming cooperation projects worth more than 35 billion dollars in the defense sector and signing the Defense Cooperation Framework Memorandum of Understanding (MOU)," adding, "Defense cooperation is related to security, so it is an area that is only possible when there is the highest level of trust between countries."

He went on to say, "The signing of the MOU was possible because of the trust between the two heads of state and the long-standing experience of cooperation built up between the two countries," and emphasized, "We will steadily advance defense cooperation with the UAE so that the MOU can ultimately lead to contracts and proceed in a way that maximizes the national interests of both countries."

The total scale of the cooperation projects agreed between the two countries is more than 65 billion dollars. In particular, they will pursue cooperation projects worth over 35 billion dollars in the defense sector. The cooperation projects will go beyond arms deals to cover the entire life cycle of the defense industry, including design, training and education, and maintenance. To this end, the two sides also signed a "Defense Cooperation Framework MOU" that sets out the necessary principles.

They will also restructure the 30 billion dollar investment cooperation between the two countries. At the summit in November last year, the two sides agreed to cooperate in strategic areas such as defense, artificial intelligence (AI), nuclear power, and culture, and the investment content will be changed accordingly. The core is financial support to substantively back the implementation of the previously pledged 30 billion dollar investment. The specific details will be released in the form of an MOU at the next summit.

In the case of nuclear power, the two countries will further expand cooperation across the entire life cycle based on the experience accumulated through the Barakah nuclear power plant. Among these, they reached a consensus to work closely together in areas such as nuclear fuel supply projects, projects to strengthen nuclear power plant maintenance capabilities, and projects to apply AI technology to nuclear power plant operations. Taking into account the growing global nuclear power market, they will also begin consultations on formulating a "joint overseas expansion implementation strategy." The strategic roadmap is scheduled to be adopted at the next summit.

In addition, the two countries agreed to finalize specific cooperation projects and accelerate working-level consultations in areas such as AI, advanced technology, culture, education, healthcare, and food by the next summit. To this end, they will form and operate sector-specific working groups on a biweekly basis, and Khaldoon Al Mubarak, Chairman of the UAE Executive Affairs Authority, is expected to visit Korea again between March and April to jointly review the progress.

Earlier, Chief of Staff Kang departed for the UAE on the 24th as Special Envoy for Strategic Economic Cooperation on behalf of the President. Kang paid a courtesy visit to UAE President Mohammed bin Zayed Al Nahyan and delivered a personal letter from President Lee Jaemyung inviting him to visit Korea.

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