News Briefing
Korea and UAE Sign MOU to Expand Investment in Korea
Jul 2024
The Ministry of Economy and Finance (MOEF) and the Mubadala Investment Company, based in Abu Dhabi, signed a Memorandum of Understanding (MoU) on May 29 to strengthen strategic cooperation and increase investment flows into future-focused sectors in the Korean economy.
This MOU provides a framework for Mubadala to explore investment opportunities in Korea’s dynamic industries such as future technologies, emerging industries, and promising small and medium-sized enterprises (SMEs). In addition, it gives a coordinating role to MOEF and Mubadala to make it easier to share investment opportunities, including co-investments between Abu Dhabi entities seeking to invest in Korea and Korean investment and financial institutions.
In January 2023, the Korea Development Bank (KDB) and Mubadala signed a MOU for the Korea-UAE Sovereign Investment Partnership, serving as a platform to coordinate UAE’s investment strategy in Korea. Through the Partnership, Mubadala and other UAE institutions are currently exploring investment opportunities in excess of $6 billion.
Khaldoon Khalifa Al Mubarak, the CEO of Mubadala, welcomed the conclusion of the MOU with MOEF, which will expand and deepen their commitment to the Korean market. He noted that Korea is one of the most vibrant and dynamic economies in the world, offering a wide range of attractive investment opportunities. He also stressed that this MOU would enhance Mubadala’s ability to invest in Korean firms operating at the forefront of diverse industries, delivering significant and long-term value for all stakeholders.
Deputy Prime Minister Choi Sang-mok emphasized that the signing of this MOU not only demonstrates the robust and flourishing partnership between the two countries but also serves as an acknowledgment of Korea’s thriving private sector and the capacity of successful companies to attract investments from prominent global investors like Mubadala. He also mentioned that this MOU would enhance the continuity and sustainability of bilateral investment ties while further strengthening the special strategic partnership of the two economies.
This MOU provides a framework for Mubadala to explore investment opportunities in Korea’s dynamic industries such as future technologies, emerging industries, and promising small and medium-sized enterprises (SMEs). In addition, it gives a coordinating role to MOEF and Mubadala to make it easier to share investment opportunities, including co-investments between Abu Dhabi entities seeking to invest in Korea and Korean investment and financial institutions.
In January 2023, the Korea Development Bank (KDB) and Mubadala signed a MOU for the Korea-UAE Sovereign Investment Partnership, serving as a platform to coordinate UAE’s investment strategy in Korea. Through the Partnership, Mubadala and other UAE institutions are currently exploring investment opportunities in excess of $6 billion.
Khaldoon Khalifa Al Mubarak, the CEO of Mubadala, welcomed the conclusion of the MOU with MOEF, which will expand and deepen their commitment to the Korean market. He noted that Korea is one of the most vibrant and dynamic economies in the world, offering a wide range of attractive investment opportunities. He also stressed that this MOU would enhance Mubadala’s ability to invest in Korean firms operating at the forefront of diverse industries, delivering significant and long-term value for all stakeholders.
Deputy Prime Minister Choi Sang-mok emphasized that the signing of this MOU not only demonstrates the robust and flourishing partnership between the two countries but also serves as an acknowledgment of Korea’s thriving private sector and the capacity of successful companies to attract investments from prominent global investors like Mubadala. He also mentioned that this MOU would enhance the continuity and sustainability of bilateral investment ties while further strengthening the special strategic partnership of the two economies.
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