Joint summit statement expresses UAE commitment to investing $30 bln in S. Korea

ABU DHABI, Jan. 16 (Yonhap) -- President Yoon Suk Yeol and UAE President Mohamed bin Zayed Al Nahyan adopted a joint summit statement that included an expression of the UAE's commitment to investing US$30 billion in South Korea, the document showed Monday. The statement, adopted after the two leaders' summit in Abu Dhabi on Sunday, covered 14 points under three headers -- strengthening cooperation in key areas, enhancing future-oriented cooperation, and peace and stability. The 14 points covered conventional energy and clean energy, peaceful nuclear energy, economy and investment, defense and defense technology, and climate change, among other areas. "As part of the wider Special Strategic Partnership framework, and building on the UAE's confidence in the ROK's economic strength and growth prospects, the UAE announced a commitment by its sovereign wealth funds to invest $30 billion in strategic sectors in the Republic of Korea," the joint statement said. The Republic of Korea is South Korea's official name. The investment decision had been announced by Yoon's office on Sunday, with Mohamed being quoted as saying that he decided to make the investment "with confidence in the Republic of Korea that keeps its promises under all circumstances." The investment will be made evenly across areas of strategic cooperation between the two countries, including nuclear power, arms, and hydrogen and solar power, Yoon's office said. The other points covered by the joint statement were cooperation on space, new industries and digital transformation, future mobility and smart infrastructure, health care; agriculture, food security and water resources; and intellectual property and statistics. The remaining three were strengthening cooperation in the Middle East, on the Korean Peninsula and in multilateralism. Under Korean Peninsula issues, the two leaders "reaffirmed that the Democratic People's Republic of Korea's relentless pursuit of nuclear and missile development poses a serious threat to peace and stability not only on the Korean Peninsula, but also in the whole world," the statement said, using North Korea's formal name. hague@yna.co.kr (END)