The rise of the region’s first nuclear power plant in Abu Dhabi is symbolic of the bilateral relationship between the UAE and the Republic of Korea, says the East Asian nation’s envoy here.
Ambassador Park Kang-ho tells GN Focus the ties between the two nations became more advanced following the signing of the contract for the Barakah nuclear power plant (BNPP) project in 2009. The project forms the focal point of relations, especially in the lead-up to the launch of the first phase next year. “Korea and UAE have established strategic partnership and expanded cooperation in various areas such as foreign affairs, energy, defence, healthcare, education, culture and more. It is a relationship that mutually benefits both countries.
“I believe that the expansion of cooperation scope and the strengthening of its quality is basically thanks to the enhanced partnership established with the BNPP.”
Park says there have been three visits between the leaders of the two countries over the past three years, and a “wide range of interests have been shared and discussed in the meantime”.
“The UAE is the first country Korea established strategic relationship with in the Arabian Gulf. This means that the two countries share a strategic understanding of each other.”
Trade between the two nations reached $14.7 billion last year, embassy data shows. This is down from $23.4 billion in 2014, mainly due to lower oil prices. At $6.1 billion, the UAE was the 20th-largest export market for South Korean goods in 2015 and the UAE’s eight-largest import partner, with cars and their parts making up the bulk of this. However, in the first half of this year, air conditioners have become the largest Korean export to the UAE, based on what’s described as an adjustment phase in the region’s car market.
Crude oil and petroleum products make up about 85 per cent of Korea’s $8.6 billion imports from the UAE. It follows that Park expects a slight decrease in trade volume this year, “partly because of the changing market environment in this region and low oil prices”.
Park says Korean exporters can be excited about the great progress made recently in the machinery and plant equipment sector. “Considering the strength of Korea’s small and medium enterprises in this field, I think there will be more mutually beneficial opportunities for both countries’ businesses if they explore cooperation in this area.”
Park, whose tenure started in May, says the BNPP is not only the first nuclear power plant in the GCC, but also the first nuclear power plant built by Koreans in a foreign country. “We still have a few more years ahead of us to work hard, but I can say with confidence that the two countries’ collaboration over the past seven years has shown the world the most successfully managed nuclear power plant construction project.”
Going forward Park can see the two nations replicating the success of the BNPP project together in other countries. “For this purpose, the agreement which Korea and the UAE signed last year will be useful as a basis for future cooperation.”
Looking beyond energy, the ambassador remains optimistic. “I believe Korea’s experience in development can help the UAE, which is diversifying its industry to prepare for the post-oil era. There are plenty of areas to share, since the two countries have accomplished industrialisation in the different ways.”
Park says the embassy makes it a priority to introduce Korean culture to the people in the UAE, and “I would like to pass on the rich Emirati culture to Koreans as well”.
He says there are currently about 13,000 Koreans living in the UAE, while around 500 Emiratis call Korea home. About 70,000 Koreans visit the UAE every year, and the embassy issued more than 10,000 visas last year, a number that’s expected to increase this year.
