SEOUL, May 29 (Reuters) – It will not be business as usual when the South Korean President Yoon Suk Yeol hosts United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan at a summit on Wednesday. The talks are to focus not just on business and investment, energy and cooperation, but also on the defence sector. South Korea has set very high targets to be achieved by its defence industry.
At a ceremony ahead of the summit, the UAE president is due to be welcomed by a flypast of Air Force jets, as South Korea seeks to tap the energy-rich Gulf state’s investment potential.
The summit comes after Yoon’s state visit to Abu Dhabi early last year, when the UAE pledged $30 billion in investment in South Korean businesses in areas spanning nuclear power, defence, hydrogen and solar energy.
The leaders are due to attend the signing of agreements and memoranda of understanding following the summit, Yoon’s office said, without providing details.
The two will discuss deepening their “special strategic partnership,” Yoon’s office said in a statement.
On Tuesday, Sheikh Mohammed met the leaders of some of South Korea’s top conglomerates including Jay Y. Lee of Samsung Electronics, SK Group Chairman Chey Tae-won and Kim Dong-kwan of Hanwha Group, which has emerged as a major defence contractor.
South Korea has signed a series of global defence equipment contracts as part of plans to become the world’s fourth-largest defence exporter by 2027. Recent deals include one with Poland, which is seeking to bolster its defences as a close neighbour of Ukraine, which is at war with Russia.
India, obviously will need to factor in the South Korean capabilities. Technologically they are ahead of the Indians in many areas. The 155 mm K9 Vajra, a self propelled tracked artillery was produced in India with South Korean participation by L&T. However, it appears, the collaboration is not going smooth in terms of delivering the next lot of K9s ordered.
(With Inputs from Reuters)
Edited by: Brig SK Chatterji (Retd)
