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Korean nuclear advice for UAE
The UAE is seeking South Korean nuclear technology to develop its nuclear power projects, a senior official said on Monday.
- By Ahmed A. Elewa, Senior Reporter
- Published: 00:03 May 13, 2008
Abu Dhabi: The UAE is seeking South Korean nuclear technology to develop its nuclear power projects, a senior official said on Monday.
A delegation from the UAE visited Seoul last week, including representatives of the Dubai Electricity and Water Authority (Dewa), and Abu Dhabi Water and Electricity Authority (Adwea).
"After this visit, co-operation between the two sides has strengthened, as at this stage we are providing technical advice and know-how through our experts," Ho-Won Kim, the South Korean deputy minister of knowledge economy, told Gulf News.
Delegation
The official is heading an investment delegation visiting the UAE to attract investors and promoting opportunities in South Korea, including renewable energy and shipbuilding with companies such as Daewoo Shipbuilding, Hyundai Construction participating, as well as various opportunities at the Jeju Free International City.
"South Korea has already agreed to set up a new nuc-lear system for the UAE. What I was informed of is that the negotiations with Dewa are in the advanced stages now," the deputy minister said.
The new government in South Korea, which came to power in February, is seeking to attract more capital into the country through several steps.
"Right now, there are around 30 ongoing projects between the UAE and South Korea, and some of these have already materialised," Ho-Won revealed.
"The Middle East and the UAE are benefiting from higher oil prices. We find abundant liquidity here, and they can play a balancing role for the global economy through utilising this liquidity," he added.
Imports
Most of Korea's industrial sector is based on processing operations, and accordingly relies heavily on importing raw material. "The situation or the trend can jeopardise competition aspects with China," Kim said.
South Korea, together with Italy, are the only two countries left in the list of Mubadala Development's potential partners for the military training aircraft tender.
"We have not heard anything from Mubadala so far, except that the timeframe has been extended to next year," the deputy minister said.
South Korea has already agreed to set up a new nuclear system for the UAE. What I was informed of is that the negotiations with Dewa are in an advancedstage now."
Ho-Won Kim
South Korean deputy minister of knowledge economy
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