Korea, UAE agree to pursue investment, defense industry projects worth $65 billion: Chief of staff
Published: 26 Feb. 2026, 19:09
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- SARAH KIM
- [email protected]
![Kang Hoon-sik, the presidential chief of staff, speaks to reporters about the results of his three-day trip to the United Arab Emirates as the president’s special envoy at Incheon International Airport on Feb. 26. [NEWS1]](https://koreaseafood.online/data/photo/2026/02/26/4994d2e8-07de-474c-b243-4cf644a181de.jpg)
Kang Hoon-sik, the presidential chief of staff, speaks to reporters about the results of his three-day trip to the United Arab Emirates as the president’s special envoy at Incheon International Airport on Feb. 26. [NEWS1]
Korea and the United Arab Emirates (UAE) agreed to pursue cooperative projects — including in the defense industry — amounting to over $65 billion, Kang Hoon-sik, the presidential chief of staff, said on Thursday afternoon after returning from Abu Dhabi.
"Our two countries agreed to jointly pursue projects worth over $65 billion, including $35 billion in the defense industry and $30 billion in other areas of investment cooperation," Kang, who visited the UAE as President Lee Jae Myung's special envoy for strategic economic cooperation, told reporters at Incheon International Airport, following a three-day trip to the UAE.
The two sides agreed to establish sector-specific working groups to expedite follow-up discussions in areas such as nuclear power, AI, advanced technology and culture to produce tangible results by the next bilateral summit.
According to Kang, the trip confirmed that the two countries would collaborate on defense industry cooperation projects exceeding $35 billion, as Korea and the UAE agreed to move beyond a simple buyer-seller relationship in arms transactions and instead cooperate across the entire defense industry life cycle, from design and training to maintenance and repair.
The two sides signed a defense industry cooperation framework memorandum of understanding outlining the principles of such cooperation.
"We will steadfastly pursue this MOU so that it leads to a final contract and maximizes the national interests of both countries," Kang said.
The two sides also agreed to revamp the $30 billion investment pledged by the UAE, following the designation of defense, AI, nuclear power and culture as strategic areas of cooperation. Such cooperation will not only ensure the practical implementation of the UAE's investment in Korea and of strategic cooperation projects but also back Korean companies' entry into the UAE market and joint expansion into third-country markets.
After coordinating detailed terms, the two countries will sign a new bilateral investment cooperation MOU at their next summit.
Building on the experience accumulated through cooperation on the Barakah nuclear power plant, Korea and the UAE also agreed to expand collaboration in the energy sector to span the entire life cycle of nuclear power projects, Kang said. The countries will work closely together to increase nuclear fuel supply, strengthen nuclear plant maintenance capabilities and incorporate AI technologies into nuclear power plant operations.
Noting that the global nuclear power market is expanding amid rising electricity demand driven by AI and other technologies, the two countries will swiftly begin consultations to formulate a joint overseas expansion strategy and adopt a road map for joint market entry.
Kang, who began the trip on Tuesday, led an interagency government delegation that included officials from the science, foreign, trade, culture and fisheries ministries, as well as the Defense Acquisition Program Administration and Korea AeroSpace Administration.
![Kang Hoon-sik, left, the presidential chief of staff and special envoy for strategic economic cooperation, shakes hands with Khaldoon Khalifa Al Mubarak, the chairman of Abu Dhabi's Executive Affairs Authority, in Abu Dhabi, the United Arab Emirates, in a photo shared on Kang's Facebook on Feb. 26. [SCREEN CAPTURE]](https://koreaseafood.online/data/photo/2026/02/26/11af93d0-2d26-4489-a075-2fdb1b01489d.jpg)
Kang Hoon-sik, left, the presidential chief of staff and special envoy for strategic economic cooperation, shakes hands with Khaldoon Khalifa Al Mubarak, the chairman of Abu Dhabi's Executive Affairs Authority, in Abu Dhabi, the United Arab Emirates, in a photo shared on Kang's Facebook on Feb. 26. [SCREEN CAPTURE]
On Wednesday, Kang paid a courtesy call to UAE President Mohamed bin Zayed Al Nahyan in Abu Dhabi. Kang relayed President Lee's letter, which expressed his willingness to expand bilateral cooperation.
In November 2025, Lee made a state visit to the UAE and held a summit with Sheikh Mohamed in Abu Dhabi. Last month, Khaldoon Khalifa Al Mubarak, the chairman of Abu Dhabi's Executive Affairs Authority, visited Korea as a special envoy and met with Lee.
Kang said he held three in-depth meetings with Khaldoon, the UAE's pointsman on Korean cooperation, during this trip.
During the trip, Kang presented Khaldoon with Dubai chewy cookies, often called "Dujjonku," the trending dessert in Korea. The treat's nickname is a portmanteau of "Dubai" and the Korean words for "chewy" and "cookie."
Khaldoon is expected to visit Korea for follow-up discussions in March or April, Kang said.
BY SARAH KIM [[email protected]]
with the Korea JoongAng Daily
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