South Korean President Lee Jae-myung Holds Summit with UAE President, Discussing Enhanced Future Cooperation

South Korean President Lee Jae-myung held a summit with UAE President Mohamed bin Zayed Al Nahyan on the 19th, engaging in detailed discussions regarding future cooperation between the two countries. According to the Presidential Office, the two leaders agreed to deepen cooperation in key sectors such as defense and defense industry, investment, nuclear power generation, and energy. They also agreed to expand cooperation in future technology sectors such as artificial intelligence (AI). President Lee Jae-myung stated, "We are starting a new journey with the UAE for a century of partnership, and we will further strengthen future cooperation."

Through this summit, the two countries signed a total of seven Memoranda of Understanding (MOUs), strengthening the foundation for cooperation. Specifically, these include establishing a strategic AI cooperation framework, cooperation on the development of new nuclear technology, and building a partnership for AI and global market cooperation. In particular, in-depth discussions were held on jointly entering the global nuclear power generation market and promoting the 'Stargate Project.' The Stargate Project is a cooperative venture related to the development of next-generation nuclear technology, through which the two countries plan to strengthen their technological competitiveness in the nuclear field and lead the future energy market. The two countries plan to establish a working group within the year to promote follow-up projects for the signed MOUs and formulate specific cooperation plans.

In the field of AI, the two countries agreed to cooperate in technology development, human resource training, and industry development. They plan to focus on creating new business models that can lead the global AI market by combining South Korea's AI technology prowess with the UAE's capital. In the nuclear field, they agreed to strengthen cooperation in all areas, including power plant construction and operation, safety technology development, and radioactive waste management. They plan to jointly invest in the development of next-generation nuclear technologies such as small modular reactors (SMRs). In the investment sector, they agreed to establish an institutional foundation for expanding investment between the two countries, identify promising investment areas, and create a mutually beneficial investment environment. They plan to create new growth engines through cooperation between South Korean high-tech companies and UAE sovereign wealth funds.

In the energy sector, they agreed to expand cooperation beyond traditional oil and gas to future energy sectors such as renewable energy and hydrogen energy. They plan to jointly invest in renewable energy power generation projects such as solar and wind power, and cooperate in hydrogen energy technology development and utilization. In the defense and defense industry sectors, they agreed to expand military exchanges and cooperation between the two countries, and strengthen technological cooperation in the defense industry sector. They plan to transfer South Korea's excellent defense technology to the UAE and focus on supporting the development of the UAE's defense industry. The Presidential Office explained that this summit was an important opportunity to strengthen the strategic partnership between the two countries and open a new horizon for future cooperation. The two countries plan to continue to formulate concrete cooperation plans and promote joint projects through high-level meetings and working-level consultations.