UAE-based AG Company announced the signing of a strategic partnership with Akbar Investment Company of the Republic of Korea to study the establishment of an industrial zone dedicated to Korean industries in the Emirate of Abu Dhabi, in a move that reflects the growing economic and investment cooperation between the United Arab Emirates and the Republic of Korea.

The announcement coincided with the visit of a high-level Korean delegation to the Emirate of Abu Dhabi, comprising representatives of government and semi-government entities as well as investors, headed by Mr. Jung Min Kim, Member of the National Assembly of the Republic of Korea and Member of the Committee on Trade, Industry, Energy, SMEs and Startups.

The agreement witnessed the signing of 15 Memoranda of Understanding (MoUs) with a number of Korean companies and manufacturers operating across various industrial sectors. The proposed industrial zone is expected to accommodate more than 25 factories during its first phase, with investments exceeding US$1 billion.

During the visit, the Korean delegation held a series of meetings with relevant entities in the Emirate, including the Abu Dhabi Investment Office (ADIO) and Khalifa Economic Zones Abu Dhabi (KEZAD), to review Abu Dhabi’s advanced investment environment, as well as its modern infrastructure, services, and facilities that support the growth of industrial and technological investments.

The delegation also met with a number of Emirati business leaders and investors and conducted field visits to review the high level of operational readiness and efficiency enjoyed by the Emirate of Abu Dhabi, further reinforcing its position as a global destination for high-quality industrial investments.

Mr. Jung Min Kim affirmed that the United Arab Emirates, and Abu Dhabi in particular, has successfully established itself as one of the world's most attractive and trusted investment destinations, thanks to its ambitious economic vision, advanced legislative environment, and world-class infrastructure. He noted that these exceptional advantages, together with the country's stability and its ability to attract high-quality investments, make it the ideal partner for expanding the presence of Korean industries across the region. He further emphasized that the project represents a new strategic step toward strengthening the economic partnership between the two countries.

For his part, Dr. Ahmed Abdullah, Chief Executive Officer of AG Company, stated that the project embodies the UAE's strategic direction toward building a more diversified and competitive national economy based on knowledge, innovation, and autonomous artificial intelligence capable of self-operation and execution. He added that attracting Korean industries to the UAE represents not merely an economic investment, but also an investment in transferring expertise, developing national competencies, and strengthening the UAE's position as a regional and global hub for industry and innovation. He further explained that the project represents a model for high-quality international partnerships that contribute to building an advanced industrial ecosystem, enhancing the national economy and its competitiveness, and creating sustainable, high-quality employment opportunities for Emirati citizens in line with future requirements.

In turn, Dr. Omar Najm, Chief Executive Officer of Baynouna Genetic Solutions, praised the rapid advancement of Korean industries, particularly in the fields of artificial intelligence and advanced healthcare technologies. He added that the project presents an opportunity to establish high-quality partnerships that support research and development, following the delegation's review of a number of advanced industrial products and technologies.

In the same context, Mr. Safwan Bals, Board Advisor of AG Company, noted that the nomination of Al Ain City as the proposed location for the industrial zone reflects the UAE's vision of expanding the scope of economic development while strengthening and diversifying production hubs, thereby ensuring a more balanced distribution of growth and investment opportunities. He added that this would have a positive impact on the city's economic and social development, while attracting investments that will create new high-quality employment opportunities for its residents, both directly and indirectly.