The diplomatic relationship between the United Arab Emirates (UAE) and the Republic of Korea (South Korea) has evolved significantly since its establishment in 1980. Over the past four decades, both nations have cultivated a multifaceted partnership encompassing economic, energy, defense, and cultural domains.
Economic Cooperation and Trade
As of 2022, the UAE stands as South Korea’s second-largest trading partner in the Gulf Cooperation Council (GCC) and the Arab regions. The non-oil foreign trade between the two countries reached USD 5.3 billion by the end of 2022, marking a growth of over 14% compared to 2021. In the first two months of 2023 alone, trade exchanges exceeded USD 917 million, with UAE exports to Korean markets witnessing a growth of 35% compared to the same period in the previous year.
In May 2024, during a state visit by UAE President Sheikh Mohammed bin Zayed Al Nahyan to South Korea, both nations signed a Comprehensive Economic Partnership Agreement (CEPA). This agreement aims to eliminate tariffs on over 90% of imports between the two countries, particularly in sectors like arms and automobiles. The UAE reaffirmed its commitment to invest USD 30 billion in South Korean businesses, focusing on areas such as nuclear power, defense, hydrogen, and solar energy.
Energy Collaboration
Energy cooperation has been a cornerstone of UAE-South Korea relations. In 2009, a consortium led by Korea Electric Power Corporation (KEPCO) secured a USD 20 billion contract to design, build, and operate four nuclear reactors in the UAE’s Barakah Nuclear Energy Plant. This project marked South Korea’s first commercial nuclear reactor export. The successful completion of the Barakah plant has not only provided the UAE with a significant source of clean energy but also exemplified the depth of bilateral collaboration in the energy sector.
Defense and Security
In recent years, defense and security cooperation between the UAE and South Korea has intensified. The two nations have engaged in joint military exercises, including trilateral drills with the United States, aimed at enhancing interoperability and addressing regional security challenges. Notably, in July 2024, the UAE Armed Forces participated in a joint exercise at the Korea Combat Training Center, marking a significant milestone in military collaboration.
Additionally, the UAE has procured advanced defense systems from South Korea, such as the Cheongung II medium-range surface-to-air missile system, enhancing its air defense capabilities. These developments underscore the growing defense ties and mutual commitment to regional stability.
Cultural and Educational Exchanges
Cultural and educational exchanges have further strengthened the bond between the UAE and South Korea. The presence of a significant South Korean expatriate community in the UAE, particularly in Dubai, has facilitated cultural integration and mutual understanding. Moreover, both countries have initiated programs to promote tourism, education, and people-to-people connections, fostering goodwill and shared experiences.
Looking Ahead
The UAE and South Korea’s strategic partnership continues to evolve, with both nations committed to exploring new avenues for collaboration. The recent CEPA agreement and ongoing discussions in sectors like technology, space, and healthcare indicate a shared vision for a diversified and robust bilateral relationship. As both countries navigate the complexities of the global landscape, their partnership serves as a model of cooperation, mutual respect, and shared prosperity.
