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Abu Dhabi identifies $2 billion in investment opportunities in South Korea

Published 05/22/2023, 01:04 AM
Updated 05/22/2023, 01:06 AM
© Reuters. The skyline of central Seoul is seen during a foggy day in Seoul March 4, 2015. REUTERS/Kim Hong-Ji/File Photo

© Reuters. The skyline of central Seoul is seen during a foggy day in Seoul March 4, 2015. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday.

The United Arab Emirates (UAE) pledged during South Korean President Yoon Suk Yeol's visit to Abu Dhabi in January to invest up to $30 billion in the Asian country in sectors including energy and information technology.

"To date, Abu Dhabi organisations have helped identify approximately $2 billion of potential investment opportunities in Korea," read the statement on Monday from Korea Development Bank and Mubadala Investment Company.

© Reuters. The skyline of central Seoul is seen during a foggy day in Seoul March 4, 2015. REUTERS/Kim Hong-Ji/File Photo

It did not elaborate on the potential investments.

The two agencies have been exploring follow-up investment since the summit.

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