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Lee calls for building 'future growth engines' through AI with UAE in business roundtable

Published: 19 Nov. 2025, 19:28 Updated: 21 Nov. 2025, 11:12

SARAH KIM
[email protected]

President Lee Jae Myung, center left, Crown Prince of Abu Dhabi Khaled bin Mohamed bin Zayed Al Nahyan, center right, and government officials and business leaders clap during a business roundtable at a hotel in Abu Dhabi in the United Arab Emirates (UAE), on Nov. 19. Attendees included Hyundai Motor Group Executive Chair Euisun Chung, far left, and Samsung Electronics Executive Chairman Lee Jae-yong, far right. [JOINT PRESS CORPS]

Korean President Lee Jae Myung called for building "future growth engines" through cooperation with the United Arab Emirates (UAE) in AI and other advanced industries during a business roundtable in Abu Dhabi on Wednesday, as part of a visit to the Gulf state.

"We will upgrade our strategic partnership and accelerate cooperation in cutting-edge industries, including AI data centers and biotechnology," Lee said in his keynote address at the business event, also attended by Crown Prince of Abu Dhabi Khaled bin Mohamed bin Zayed Al Nahyan.

He added that based on Korea's chip technology, such as high bandwidth memory (HBM), and engineering, procurement and construction (EPC) capabilities, "Korea will become the most reliable partner for the UAE's leap forward as an AI hub by 2031."

During the event, Lee introduced Korea's participation in the UAE Stargate project, which aims to build an AI data center with a capacity of up to 5 gigawatts in Abu Dhabi, a cornerstone for the UAE's vision to become an AI hub.

The event brought together some 50 business executives and government officials from the two countries to discuss economic cooperation in technology, defense industry, energy and other key sectors. Attendees included the leaders of some of Korea's top conglomerates, including Samsung Electronics Executive Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, Hanwha Group Vice Chairman Kim Dong-kwan and LG Electronics CEO Cho Joo-wan.

On Tuesday, President Lee held a bilateral summit with UAE President Mohammed bin Zayed Al Nahyan, an occasion for the two countries to sign seven memorandums of understanding, including on strategic AI cooperation, nuclear power technology and the space industry.

Through such cooperation, Korea will participate in the Stargate UAE project to build a massive new AI data campus in the Gulf country. The U.S.-backed Stargate initiative is a joint venture between OpenAI, Oracle and SoftBank that has expanded to help build an AI campus in Abu Dhabi, with an initial investment by global companies estimated at over 30 trillion won ($26.5 billion).

President Lee, in his roundtable address, said he was "confident that the UAE will rise to become a world-class nation by 2071, the year the country celebrates its 100th anniversary," noting that Korea "is an optimal partner for this goal."

Lee added that the "Korean government and I will spare no effort in supporting the activities of businesspeople from both countries toward shared prosperity." He expressed hopes that the business event in Abu Dhabi, "a true global business hub," will serve as an opportunity to "create new growth opportunities."

Samsung Electronics Executive Chairman Lee Jae-yong, left, speaks with Federation of Korean Industries Chairman Ryu Jin, center, and Hyundai Motor Group Executive Chair Euisun Chung a during a business roundtable at a hotel in Abu Dhabi in the United Arab Emirates (UAE) on Nov. 19. [JOINT PRESS CORPS]

The Korea-UAE business roundtable discussed cooperation plans centered on three areas — AI and other advanced industries; defense, energy and infrastructure; and K-culture, food and beauty.

Regarding defense industry cooperation, President Lee said he hopes that through joint expansion into third countries, bilateral cooperation will "expand beyond the Middle East and North Africa into a global dimension."

He added that through building local nuclear fuel and electricity facilities, Korea will also be able to contribute to the development of the UAE's nuclear power industry.

Lee also mentioned the potential for K-food exports to the Middle East, noting, "Recently, Korean beef was exported to the UAE for the first time, demonstrating new possibilities in the halal market."

The event was jointly organized by the Korea Trade-Investment Promotion Agency, or Kotra, and the Federation of Korean Industries, along with its UAE counterparts. Other leading Korean companies represented included Hanwha Group, HD Hyundai, LIG Nex1, Naver and CJ, along with the state-run Korea Electric Power Corp, or Kepco, and startup companies operating in the UAE, including Nota AI.

The latest Middle East trip appears to reflect that the Lee administration is in lockstep with business leaders to explore new markets, following the successful public-private collaboration to respond to the rocky tariff negotiations with the United States and to weather the shifting global trade order.

In an indication of public-private sector cooperation, Hyundai's Chung told reporters at the business event that the release of the fact sheet on the outcome of the Korea-U.S. tariff negotiations last week was "thanks to the government's hard work."

He said he "anticipates the U.S. market to improve next year."

President Lee Jae Myung, center left, and first lady Kim Hea Kyung, center right, take a commemorative photo with soldiers of the Akh Unit, a Korean special forces contingent stationed in the United Arab Emirates (UAE), during an event in Abu Dhabi on Nov. 19. [JOINT PRESS CORPS]

The business roundtable comes as Lee wraps a three-day state visit to the UAE, the first leg of a four-country tour which will later take him to Egypt, South Africa, the host country of this year's Group of 20 (G20) summit, and Turkey.

Korea and the UAE released a joint statement on the outcome of Lee's state visit entitled "A new leap toward a shared journey for the next century." It noted the two countries' growing collaboration in energy, construction and infrastructure, trade and investment, national defense and defense technology, space, AI and other advanced technologies, health and medical services, agriculture, education, culture and people-to-people exchanges.

The two leaders committed to forming a "practical, sustainable, and mutually beneficial cooperation mechanism in each area," including establishing a joint research and development platform, expanding technology, human exchanges and knowledge transfer, establishing a stable supply chain of core materials and "planning a collaboration model for joint production and joint entry to third countries."

In the fields of AI and semiconductors, the statement said the two countries will explore joint investment, development, and export initiatives, such as the joint establishment and operation of hyperscale AI data centers based on their energy-mix strategies, and global AI Smart Port projects that utilize digital twin technology and physical AI. They also called for the opening of dialogue channels to deepen cooperation in responsible AI governance, cybersecurity and semiconductor ecosystem resilience.

Regarding civil nuclear energy, the two leaders agreed to deepen collaboration in nuclear fuel, maintenance and digital transformation to ensure the stable operation of the Barakah nuclear power plant, and committed to forming a mutually beneficial cooperation framework that "enables joint entry into global markets by expanding the Barakah model."

A Korean consortium won a $20 billion contract to build the UAE's first nuclear power plant in 2009. It completed the construction of the fourth reactor unit of the Barakah nuclear power plant last year.

During the summit, President Lee presented President Mohamed with a falcon sculpture, a gesture of respect and friendship toward the UAE.

Later Wednesday, Lee met with service members of the Akh Unit, a Korean special forces contingent stationed in the UAE, before heading to Cairo, the second leg of the trip.

BY SARAH KIM [[email protected]]