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Reem Investments is looking to boost ties with South Korean companies establishing a presence in the UAE, as figures reported by the UAE Ministry of Foreign Trade reveal Korean direct investment in the emirates stands at US$1.24 billion in 2011.
The Abu Dhabi based privately held company is the Title Sponsor of the Made In Korea 2012 exhibition, the only dedicated platform in the MENA region showcasing products, services and technologies from more than 300 South Korean companies, taking place from 21-23 May at Abu Dhabi National Exhibition Centre.
Reem Investments has already partnered with two companies from the North East Asian powerhouse showcasing some of the latest technologies at the three day exhibition. These include EGO, the world’s first 100 per cent electric, zero emissions compact semi submarine; and the T-up golf simulator – the perfect option for a social outing among golfing enthusiasts.
Commenting on their participation as Title Sponsor of Made In Korea 2012, Bambang Sugeng Bin Kajairi, CEO of Reem Investments said: “With our in-depth knowledge and expertise in the local market place, we are promoting Reem Investments as a suitable, trusted partner for those South Korean companies looking to establish a presence, or expand their business in the UAE and wider GCC region.
“Made In Korea 2012 is the ideal platform to further enhance bilateral relations between the UAE and South Korea, and for our part we are here to help organisations either through joint ventures, or direct investment, should the opportunities be in line with our investment mandate.”
More than 130 South Korean companies have set up operations in the UAE in the past ten years, and while trading volumes between the UAE and South Korea is strong, tourism between the two countries is also on a significant upward trend.
According to Ideal Idea Events, organisers of Made In Korea 2012, more than 50,000 Korean tourists visit the UAE annually, while South Korea witnessed a 29.5 per cent increase in Emirati tourists in 2011 compared to 2010. Meanwhile, recent figures from the Abu Dhabi Tourism and Culture Authority show that 9,580 South Koreans stayed in Abu Dhabi hotels in 2011, an increase of 73 per cent from 2010.
Made In Korea 2012 is held in association with the Korean Trade-Investment Promotion Agency and the Ministry of Knowledge Economy, with the Korean Association of UAE and the UN World Food Programme on board as Supporting Partners. Strategic Partners include Samsung, Abu Dhabi Chamber, Abu Dhabi Tourism and Culture Authority, and FAM Holding.
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