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Sunday, March 3, 2024

Ministry of Economy discusses cooperation with South Korea

(Dubai) – Abdullah Sultan Al Shamsi, Under-Secretary at the Ministry of Economy and Chairman of the Executive Global Innovation Team, and Kim Yungray, Director-General of Commercial Policies at the Ministry of Commerce and Industry of South Korea, discussed potential cooperation in advanced automotive technology during a meeting at the headquarters of the Ministry of Economy in Dubai.

They also discussed promoting cooperation to benefit from Korea’s leading experience in car automation, to support a project by the ministry to develop an advanced automotive technology centre in the UAE.

Both sides agreed to form a joint team that will include officials and experts to discuss the mechanisms of coordination and the practical future steps that are required to implement the project, including infrastructure, organisational structure, updated legislative frameworks, research, development and training, especially in engineering electric and hydrogen powered automobiles.

The meeting is a follow-up of a previous meeting that took place last week between Sultan bin Saeed Al Mansouri, Minister of Economy, and Kim Hon Tchong, Minister of Commerce and Industry of South Korea, where they have discussed potential partnerships in aviation, advanced automotive technology and renewable energy.

The Korean delegation also visited the Sharjah Research, Technology and Innovation Complex.

Al Shamsi said that the UAE has prioritised the automotive technology sector, which is a key future technology sector and is linked to three of seven sectors identified by the “National Innovation Strategy,” including transport, technology and renewable energy.

Al Shamsi stressed that the Ministry of Economy is cooperating with its partners to develop an integrated centre for advanced automotive technology in the UAE.

He added that its headquarters is expected to be located at the Sharjah Research, Technology and Innovation Complex, due to the location of Sharjah and its emphasis on developing entrepreneurship and creating a strong industrial environment.

Yungray said that Korea is keen to promote its strategic overall partnership with the UAE, while praising its leading vision of innovation and its efforts to create a knowledge-based economy.

He added that the Korea is willing to support the project, including in the creation of laws, legislation and programmes related to the automotive sector.

The meeting was attended by officials and experts from both sides.

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