Officials fly to Middle East in bid to drum up investment

A group of Korean officials will host investor relations sessions in the Middle East in a bid to foster business and investment between the two sides, the financial regulator said yesterday.

The meetings will be held in the city of Dubai in the United Arab Emirates for a week starting tomorrow, the Financial Supervisory Service said in a statement. It is the first time that the government has hosted an event for investors in the oil-rich region, the FSS said. The officials from Seoul will then travel to other neighboring nations - Kuwait, Qatar and Saudi Arabia - to meet with their counterparts in both public and private sectors including sovereign wealth funds and the royal families.

The Korea Exchange and other major banks from Seoul will also clinch similar deals with their counterparts in the UAE and Oman to boost cooperation for business and investment, according to the regulator.