Korea has business opportunities for UAE 

The unique business opportunities and the unrivalled joint ventures atmosphere offered for foreign companies in Seoul, which is on track to be a truly global multi-faceted sustainable city, was in the spotlight at the Seoul Business Forum, which was held at Abu Dhabi, the capital of United Arab Emirates, today.

Speaking at this event attended by top business and government leaders from both UAE and Korea to overview the potential mutual and joint ventures, His Excellency Ra Jin-Gu, Vice Mayor of Seoul, said, "With our aspiration to be among the 10 top cities in the world, Seoul is fast evolving as a global destination that appeals to many people from every corner of the world to visit, live, and do business. This growth also offers various business opportunities for entrepreneurs in the UAE and the larger Middle East."

He added: "The large-scale and inspiring projects being built in Seoul highlight the Government's aspirations to make the city an international technological, business and financial hub. One such project is the Digital Media City, which is aimed to be a world-class media and entertainment cluster where cutting-edge technology and culture integrates.

Magok R&D City is another project that focuses on eco-friendly research in the areas of information technology, nanotechnology and biotechnology while Finance Center Seoul and Yongsan International Business District will transform Seoul into a financial and business center.”

Vice Mayor Ra Jin-Gu was one is one of speakers at Global City Forum, which is being held in Abu Dhabi from April 7 to 9.

In his speech at the Global City, Ra Jin-Gu highlighted the milestones achieved by Seoul as well as its vision and global strategy for 21st Century, which calls for raising the standards of competitiveness of Korea.

"By nurturing the cultural aspects such as performing arts and creative digit content, we have transformed the city into an art and culture hub. Besides, the global zones and global centers being established in Seoul will ensure that expatriates can live, work, and do business in very smooth and friendly atmosphere,” he said.

Following Ra's speech, Memorandum of Understanding (MoU) was signed between King Abdulla Economic City Media City, being developed by Emaar the Economic City, KSA, and Digital Media City operated by Seoul Business Agency. This MoU aims to achieve cooperation between the two parties in a variety of areas such as urban development, culture, human resources, in addition to businesses.

In addition, Korea’s SK Construction signed a contract for $373 million from Tamouh Investment, the Abu Dhabi-based real estate developer, to construct four multi-purpose buildings in block C-13 on Al Reem Island, Abu Dhabi.