UAE, South Korea Deepen Ties with Investment Pacts at Investopia 2024

The United Arab Emirates (UAE) and South Korea solidified their economic partnership by signing two memorandums of understanding (MOUs) during Investopia 2024,a global investment event held in Abu Dhabi last February.These agreements aim to boost collaboration in venture capital,support startups,and explore new economic sectors.

The MOUs highlight Investopia's role in fostering dialogue and fostering connections between international and national institutions.This paves the way for promising business opportunities and the development of new partnerships.Notably,the agreements focus on propelling investment in key sectors like venture capital,small and medium enterprises (SMEs),entrepreneurship,financial technology (FinTech),artificial intelligence (AI),and the circular economy,all considered drivers of sustainable global growth.

The signings took place in the presence of dignitaries including H.E.Abdulla Bin Touq Al Marri,UAE's Minister of Economy and Chairman of Investopia,and H.E.Daehee Lee,Deputy Minister at the Korean Ministry of Small and Medium Enterprises and Startups.Representing the Dubai Multi Commodities Center (DMCC) and the Korea Institute for Startup and Entrepreneurship Development (KISED) respectively,Mr.Ahmed Hamza and Mr.Ganghun Lee signed the first agreement.The second MOU was signed by Mr.Abdul Basset Qaid,Head of Capital Funding at the Dubai Future District Fund (DFDF),and Mr.Hyung-Chul Koo,Senior General Manager at the Korea Venture Investment Corporation (KVIC).

The DMCC-KISED agreement focuses on providing comprehensive support for startups and entrepreneurs.It facilitates the exchange of best practices and experiences to benefit both parties.This collaboration will also ease the entry of UAE startups into the Korean market and vice versa.Additionally,it fosters cooperation in emerging industries like entertainment,digital games,blockchain,and Non-Fungible Token (NFT) technologies.

The DFDF-KVIC agreement,on the other hand,aims to enhance collaboration in venture investments.This includes sharing expertise and experiences in nurturing startups and facilitating their global expansion through participation in relevant international events.

These latest MOUs bolster the existing strong UAE-Korean relations,particularly in the areas of energy,investment,emerging industries,and the new economy.They also underscore the success of Investopia in driving investment initiatives and projects on both local and global scales,attracting investors and governments to explore diverse economic and investment opportunities.

Over the two days of the event,Investopia 2024 brought together a diverse group of investors,government officials,entrepreneurs,and experts.Held in Abu Dhabi,the event served as a valuable platform for establishing partnerships and fostering investment and cooperation opportunities within the new economy sectors.With over 2,500 participants and more than 90 speakers,discussions covered the latest trends in investment and the economy,including innovative venture capital strategies,the green economy's potential,new-generation investment approaches,and the digital economy,tourism,sports,and technology industries.

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