Sharjah Chamber Highlights Prospects For Strategic Investment Partnerships With Korean Businesses

SHARJAH, (UrduPoint / Pakistan Point News / WAM - 29th Sep, 2025) The Sharjah Chamber of Commerce and Industry (SCCI) organised the Sharjah–Korea Business Forum as a platform to expand bilateral cooperation, promote investment opportunities, and strengthen business ties between Sharjah and the Republic of Korea.

The forum focused on fostering partnerships in key strategic sectors including digital industries, artificial intelligence (AI), financial technology, digital healthcare, smart transportation, advanced manufacturing, and other future-facing industries.

During the forum, which was held at SCCI’s headquarters, the Sharjah Chamber signed a Memorandum of Understanding (MoU) with the Korea International Trade Association (KITA). The MoU seeks to strengthen trade relations, expand areas of bilateral cooperation, and support initiatives that facilitate economic collaboration between the business communities of both friendly countries.

The agreement was signed by Abdallah Sultan Al Owais, Chairman of SCCI, and Jin Sik Yoon, Chairman of KITA, in the presence of Mohammed Ahmed Amin Al Awadi, Director-General of SCCI. Also present were Sheikh Dr. Saleh S. Alsharqi, Head of Economic Affairs at the UAE in the Republic of South Korea, and Dr. Fatima Khalifa Al Muqarrab, Director of International Relations Department at SCCI, along with several officials from both sides.

Under the MoU, both parties will work to encourage the exchange of trade delegations and discussions in the fields of export and economy and will support follow-up visits for this purpose. They will also coordinate to establish and expand a business network which facilitates the circulation of business opportunities among the two countries.

The agreement further provides for encouraging the flow of reciprocal economic information, statistics, and trade data, and promoting joint research activities, in addition to facilitating coordinated participation in trade fairs, exhibitions, economic conferences and seminars held in both countries.

The Sharjah–Korea Business Forum was attended by senior officials, business leaders, and representatives of more than 100 entities and companies from Sharjah and South Korea, covering a wide range of economic, commercial, and investment sectors.

During the forum, both sides discussed ways to strengthen partnerships across technology-based industries, alongside energy and infrastructure sector led by major companies specialising in construction and renewable energy.

This emphasis underscored the shared vision of moving bilateral cooperation to a more advanced level of innovation-driven economic integration. It also highlighted the mutual commitment to strengthening business ties and fostering sustainable partnerships that support economic growth in both Sharjah and South Korea.

In his opening speech, Abdallah Sultan Al Owais said the forum marks a pivotal milestone in the growing economic relations between the United Arab Emirates and South Korea, which have evolved into a solid partnership built on deep trust and tangible achievements.

He noted that non-oil trade between the two countries reached around AED 19.5 billion in 2022, recording a 14 percent growth compared to 2021, which clearly reflects the robustness of UAE-Korea commercial ties.

Al Owais further pointed out that this solid foundation extends beyond trade figures to encompass a long-term strategic commitment, demonstrated by the UAE’s announcement of plans to invest USD 30 billion in key sectors in South Korea, balanced by a strong Korean investment presence in the UAE.

For his part, Jin Sik Yoon highlighted Korea’s strategic priority of strengthening economic ties with the UAE, with particular focus on Sharjah. He described the Sharjah–Korea Business Forum as a valuable opportunity to open new channels of communication and build sustainable partnerships.

“The Korean business community is closely observing the complementarity between Korea’s advanced technologies and industrial expertise, and the UAE’s growth-oriented market, strong financing base, and forward-looking vision. Looking ahead, Sharjah’s competitive investment environment is well-positioned to attract Korean companies, paving the way for a new phase of qualitative development in bilateral business relations,” he added.

The forum wrapped up with structured B2B meetings between entrepreneurs and officials from both sides, centred on establishing effective partnerships and identifying investment prospects in priority sectors.

Participants also explored avenues for collaboration and coordination on upcoming projects, with the overarching goal of advancing mutual interests and supporting long-term sustainable economic growth across Sharjah and South Korea.