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0 Korea-UAE investment cooperation MOU signed… Expanding investment in future-oriented sectors
Currently reviewing investment opportunities of more than $6 billion, including UAE sovereign wealth fund Mubadala
- Reporter name Reporter Nam Gi-woong , Mobile Reporting Department
- Entered 2024.05.30 19:05
[Mobile Reporter Nam Ki-woong] The Ministry of Strategy and Finance announced on the 29th that it signed a memorandum of understanding (MOU) with Mubadala, an Abu Dhabi investment company, to strengthen strategic cooperation and expand investment in future-oriented sectors of the Korean economy.
Mubadala Investment Company is a sovereign wealth fund that manages a global portfolio with the goal of generating sustainable returns for the government of Abu Dhabi.
This memorandum of understanding provides a framework for reviewing Mubadala’s investment opportunities in Korea’s dynamic industries, including future technologies, new industries, and promising small and medium-sized enterprises.
In addition, the Ministry of Strategy and Finance and Mubadala are given a coordinating role to promote the sharing of investment opportunities, including joint investments, between Abu Dhabi institutions wishing to invest in Korea and Korean investment and financial institutions.
In January last year, Korea Development Bank and Mubadala signed a memorandum of understanding (Korea-UAE Sovereign Investment Partnership) for cross-border investment cooperation as a platform to coordinate the UAE’s investment strategy in Korea.
Through these partnerships, Mubadala and other Emirati institutions are currently reviewing more than $6 billion worth of investment opportunities.
“We are pleased to expand our participation in the Korean market by signing a memorandum of understanding with the Ministry of Strategy and Finance,” said CEO Khaldoon Al Mubarak Mubadala. “Korea is one of the most vibrant and dynamic economies in the world, providing diverse and attractive investment opportunities.” “We provide,” he said.
He also emphasized, “This memorandum of understanding will expand Mubadala’s investments in Korean companies operating at the forefront of each industry sector, creating important and long-term value for everyone.”
Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok said, “The signing of the Memorandum of Understanding between the Ministry of Strategy and Finance and Mubadala not only demonstrates the strong and successful partnership between the two countries, but also demonstrates Korea’s dynamic private sector and successful Korean companies attracting leading global investors such as Mubadala. “ It shows that we have the capacity to attract investment from the public,” he emphasized.
He also said, “The signing of this memorandum of understanding will strengthen the continuity and sustainability of investment cooperation between the two countries, while also contributing to further solidifying the special strategic partnership between the two countries.”
Kang Seok-hoon, Chairman of Korea Development Bank, said, “Since signing the first memorandum of understanding with Mubadala in January last year, Abu Dhabi institutions have been working closely to invest in leading Korean companies.”
He continued, “The memorandum of understanding signed today will build on existing successful partnerships and contribute to helping Mubadala and other Abu Dhabi institutions identify good investment opportunities by collaborating not only with Korea Development Bank but also with other Korean partners.”
Mobile Reporting Department nkw778@hanmail.net
