The Ministry of Economy and Finance (MOEF) and the Abu Dhabi-based Mubadala Investment Company, signed a Memorandum of Understanding (MoU) on May 29 to strengthen strategic cooperation and increase investment flows into future-focused sectors in the Korean economy.
This MOU provides a framework for Mubadala to explore investment opportunities in Korea’s dynamic industries ranging from future technologies, emerging industries, to promising small and medium-sized enterprises (SMEs). In addition, it assigns a coordinating role to MOEF and Mubadala to facilitate the sharing of investment opportunities, including co-investments between Abu Dhabi entities wishing to invest in Korea and Korean investment and financial institutions.
In January 2023, the Korea Development Bank (KDB) and Mubadala signed a MOU for the Korea-UAE Sovereign Investment Partnership, serving as a platform to coordinate UAE’s investment strategy in Korea. Currently, Mubadala and other UAE institutions are exploring investment opportunities in excess of $6 billion through the Korea-UAE Sovereign Investment Partnership.
CEO of Mubadala Khaldoon Khalifa Al Mubarak welcomed the conclusion of the MOU with MOEF, which will expand and deepen their commitment to the Korean market. He noted that Korea is one of the most vibrant and dynamic economies in the world, offering a wide range of attractive investment opportunities. He also stressed that this MOU would enhance Mubadala’s ability to invest in Korean firms operating at the forefront of diverse industries, delivering significant and long-term value for all stakeholders.
Deputy Prime Minister Choi Sang-mok emphasized that the signing of this MOU not only demonstrates the robust and flourishing partnership between the two countries but also serves as an acknowledgment of Korea’s thriving private sector and the capacity of successful companies to attract investments from prominent global investors like Mubadala. He also mentioned that this MOU would enhance the continuity and sustainability of bilateral investment ties while further solidifying special strategic partnership between the two economies.
Chairman of the KDB Kang Seok-hoon stated that since the initial MOU with Mubadala concluded in Jaunary 2023, he has seen strong collaboration and a steadfast commitment from Abu Dhabi institutions to invest in Korea’s leading enterprises; today’s signed MOU will build on the success of the partnership, encouraging Mubadala and other Abu Dhabi entities to collaborate not only with the KDB but also with other Korean partners in seizing investment opportunities that yield positive outcomes.
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