Regarding the investment of 30 billion dollars (about 37 trillion won) promised by the United Arab Emirates (UAE) to Korea today (31st), the President's Office said, "We will make sure that all investments are made within the term of the current government."
Choi Sang-mok, senior secretary for economic affairs, said at a briefing this afternoon, "I will consider the cases of the UK and France where the investment contract period is set at 5 or 10 years."
Chief Choi emphasized, "We will quickly discover areas that the UAE, the investor, is attracted to, and (investors) will do our best to make it happen as we planned without a hitch."
He added, "It is expected that it will depend on how innovative investment plans are proposed by our side."
Chief Choi explained that the two governments are currently negotiating on the investment field, target, method, and institution, and it is expected that the decision will be made based on the existing investment cooperation cases that the UAE has signed with the United Kingdom and France.
Chief Choi said, “If you look at the case of the UK and France, new technology and energy are common, the UK is adding bio and infrastructure, and France is adding semiconductor and space (as investment fields).” know," he said.
He added, "Investment targets are also not limited by the size of the company, from start-ups and venture companies to small and medium-sized enterprises and large corporations."
Regarding the method of investment, he said, "We are negotiating in the direction of combining direct investment and indirect investment through private equity funds."
Regarding the possibility of additional nuclear power cooperation with the UAE, Chief Choi said, "I know that the UAE is not planning a new nuclear power plant yet, but I expect that cooperation will continue in that area."
Regarding the new investment field, he repeatedly emphasized, “I expect that investment will be made regardless of the field as long as profitability, prospects, and attractiveness for investment are met not only in the field I mentioned at the beginning, but also in the new industry field.”