SEOUL: Abu Dhabi organizations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday. 

The UAE pledged during South Korean President Yoon Suk Yeol’s visit to Abu Dhabi in January to invest up to $30 billion in the Asian country in sectors including energy and information technology. 

“To date, Abu Dhabi organisations have helped identify approximately $2 billion of potential investment opportunities in Korea,” read the statement on Monday from Korea Development Bank and Mubadala Investment Co. 

It did not elaborate on the potential investments. 

The two agencies have been exploring follow-up investments since the summit. 

Reuters