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The Sharjah Chamber of Commerce and Industry hosted the Sharjah-Korea Business Forum in Seoul as part of a mission that ended with the signing of a memorandum of understanding with the Korea International Trade Association according to a statement from the chamber. Abdallah Sultan Al Owais chairman of the Sharjah Chamber of Commerce and Industry led the delegation that included Mohammed Ahmed Amin Al Awadi the chamber’s director general. The agreement seeks to reinforce bilateral trade ties and support initiatives that encourage economic collaboration between the business communities of Sharjah and South Korea.
Discussions during the forum focused on forward-looking sectors that included digital industries artificial intelligence financial technology digital healthcare smart transportation and advanced manufacturing the chamber reported. Opportunities in renewable energy infrastructure and construction projects also drew attention from both sides. The event aimed to align economic goals and explore areas of mutual interest between the two economies.
Al Owais described the forum as a pivotal moment in the growing economic relationship between the UAE and South Korea in his opening remarks. Non-oil trade between the two nations reached approximately AED 19.5 billion in 2022 representing a 14 percent increase from the previous year according to figures he cited. The chairman pointed to the UAE’s announcement of plans to invest USD 30 billion in key sectors across South Korea as further evidence of the deepening ties.
Jin Sik Yoon chairman of the Korea International Trade Association highlighted South Korea’s strategic interest in deepening economic relations with the UAE with particular focus on Sharjah the statement said. He noted that Korean businesses see strong potential in Sharjah’s competitive investment environment and the complementarities between Korean technology and the UAE’s forward-looking market. Yoon viewed the forum as an important opportunity to open new channels of communication and foster sustainable partnerships.
The memorandum of understanding signed during the mission calls for the exchange of trade delegations and ongoing discussions on exports and broader economic cooperation according to the chamber. Both parties agreed to develop a business network that supports the circulation of opportunities between the two countries and to exchange economic data and statistics. The pact also promotes joint research initiatives and coordinated participation in trade fairs exhibitions and economic conferences.
More than 100 companies and institutions from Sharjah and South Korea participated in the forum which concluded with structured business-to-business meetings the chamber said. These sessions allowed Emirati and Korean entrepreneurs and officials to identify investment opportunities in priority sectors and explore possibilities for collaborative projects. The meetings sought to establish effective partnerships that contribute to shared economic goals.
Sheikh Dr Saleh S Alsharqi head of economic affairs at the UAE in South Korea and Dr Fatima Khalifa Al Muqarrab director of the international relations department at the Sharjah Chamber of Commerce and Industry attended the event according to the chamber. The forum reflected the strong investment presence that South Korean companies already maintain in the UAE. Non-oil trade growth and investment flows have marked the bilateral relationship in recent years.
