UAE Korea Energy Cooperation To Boost Energy, Industry And Advanced Technology Partnerships

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director & Group CEO, has completed an official visit to the Republic of Korea, where discussions focused on energy cooperation, industrial development, and advanced technologies, reinforcing the long-term economic relationship between the UAE and Korea.

During the visit on Wednesday, Dr. Al Jaber held a series of high-level meetings with senior Korean government officials and private-sector leaders. Abdulla Saif Al Nuaimi, UAE Ambassador to Korea, and Hasan Jasem Nasser Al Nowais, Undersecretary of the Ministry of Industry and Advanced Technology, attended the engagements.

Recent trade figures underscored the scale of the partnership. In 2024, total bilateral trade between the UAE and Korea reached around $22.9 billion, including petroleum products. Non-oil trade rose to $6.6 billion, representing a 15 percent increase compared with 2023 and reflecting broader cooperation beyond hydrocarbons.

Over the past five years, non-oil trade between the UAE and Korea has expanded by more than 80 percent. This growth has been supported by a 48 percent increase in imports, while exports recovered by 35 percent after the COVID-19 pandemic, despite a 25 percent decline in 2024 compared with 2023.

The UAE is currently Korea’s second-largest trading partner within the GCC, accounting for 32 percent of Korean exports to the region. At the same time, the Republic of Korea ranks as the UAE’s 28th largest global trading partner, highlighting the strategic importance of maintaining stable economic and energy ties.

In a meeting with Cho Hyun, Minister of Foreign Affairs, Dr. Al Jaber reiterated the UAE leadership’s commitment to deepening its special strategic partnership with Korea. He stressed that Korea continues to be a key partner for energy security and advanced industrial growth, grounded in trust, mutual respect, and constructive cooperation.

UAE Korea trade, energy and advanced technology agenda highlighted in ministerial talks

Dr. Al Jaber also held talks with Kim Sung-hwan, Minister of Climate, Energy & Environment, where both sides examined options to expand collaboration in clean energy projects and low-carbon technologies. Discussions focused on supporting long-term climate goals while maintaining reliable and affordable energy supplies for both economies.

Further discussions with Kim Jung-Kwan, Minister of Trade, Industry and Resources, centred on advanced technology, future industries and supply chain resilience. The talks addressed how to strengthen industrial competitiveness and align mutual economic interests, including support for innovation, manufacturing capability and secure access to critical inputs and components.

Dr. Al Jaber additionally met senior executives from key Korean companies and government-linked entities. Participants included Youngjin Jang, Chairman and President of Korea Trade Insurance Corporation (K-SURE); Yongsoo Huh, Vice Chairman and CEO of GS Energy; Saehong Hur, Vice Chairman and CEO of GS Caltex; Jongsoo Lee, CEO of SK E&S; Hojun Jang, CEO of SK TI; and Dong Kwan Kim, Vice Chairman of Hanwha Group.

These meetings explored expanded cooperation along the energy value chain, covering crude oil storage and sales, gas, liquefied natural gas, hydrogen and renewable energy. The parties also reviewed prospects for new investments in both countries, aiming to support diversified growth while reinforcing Korea’s energy security and the UAE’s industrial development agenda.

With inputs from WAM