Sign Up
baraka

Written by

baraka

UAE Goes South

UAE Goes South

Share this article

  • The United Arab Emirates has decided to spend $30B in South Korea's businesses as the two nations work to deepen their economic ties. South Korean President Yoon Suk-yeol met with his UAE counterpart, Sheikh Mohammed bin Zayed al-Nahyan, on a four-day state visit to Abu Dhabi to decide on the investment.
  • The $30B investment, according to Seoul's finance ministry, will be spearheaded by sovereign wealth funds, notably Mubadala Investment Company. The investment will target the nuclear, defence, hydrogen, and solar energy industries. The two nations also agreed to cooperate for investment in South Korean businesses by signing 13 memorandums of understanding at their summit, including one between the government-run Korea Development Bank and the state fund Mubadala of Abu Dhabi.

Why it matters

The investment is the highest investment ever made by the UAE in a single nation. The UAE previously invested $12.2B in the UK and has pledged to invest $1.6B in France $5B in China.

akbaraka

Get Smarter
About Investing

Join 45,000+ subscribers and get our 5 min daily newsletter on daily local and international financial news.
akhbaraka
Get Smarter<br/> About Investing

Similar News

Subscribe to Newsletter
© baraka financial limited. All rights reserved.

Baraka Financial Limited ("Baraka") is registered in the Dubai International Financial Centre ("DIFC") and is regulated by the Dubai Financial Services Authority ("DFSA"). It holds a Category 3C license with a Retail Client and a Holding and Controlling Client Assets endorsement. Baraka is a wholly owned subsidiary of Baraka Technology Holding in Abu Dhabi Global Market.

Baraka shall not be responsible for any loss arising from any investment based on any general information provided by Baraka or as may be available on Baraka’s website and other web-based services (collectively, the "Website Services"). Your investment can fluctuate, so you may get back less than you invested. Baraka does not warrant that the information is accurate, reliable or complete or that the supply will be without interruptions. Any third party information provided through does not reflect the views of Baraka.. 

The content of the Website Services provided by Baraka is only intended to provide you with general information and is neither an offer to sell nor a solicitation of an offer to purchase any security and may not be relied upon for investment purposes. Any commentaries, articles, daily news items, public and/or private chat publications, stock analysis and/or other information contained in the Website Services should not be considered investment advice.

Baraka shall not be liable for any delay, inaccuracy, error or omission of any kind in the information provided by Baraka and/or any third party information provider or for any resulting loss or damage you may suffer as a result of or in connection with the information supplied by Baraka and/or any third party information provider. In addition, Baraka shall have no liability for any losses arising from unauthorized access to information or any other misuse of information.

Any opinions, news, research, analysis, prices, or other information contained on our Website Services, or emailed to you, are provided as general market commentary, and do not constitute investment advice. Baraka will not accept liability for any loss or damage, including, without limitation, for any loss of profit which may arise directly or indirectly from use of or reliance on such information. Each decision as to whether an investment is appropriate or proper is an independent decision by you. You agree that Baraka has no fiduciary duty to you and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with you following Baraka’s generic investment information.

Baraka provides traditional securities and does not intend to engage a Shariah advisor or obtain a fatwa regarding Shariah screened securities. Baraka does not have an Islamic Window endorsement from the DFSA. Clients should be aware that Shariah screened stocks may involve additional risks and costs. There can be no assurance as to the Shariah compliance of the securities listed by Baraka. Clients are reminded that views on Shariah compliance differ and that they should obtain their own independent advice as to the permissibility of a security.

We use our own cookies as well as third-party cookies on our websites to enhance your experience, analyze our traffic, and for security and marketing.

For more info, see our Cookie Policy.