Yoon Suk-yeol concludes his visit to the UAE and Switzerland

President Yoon Hee-yeol (centre) visited the Swiss Federal Institute of Technology in Zurich on Thursday, wrapping up his four-day trip to Switzerland. [JOINT PRESS CORPS]

President Yoon Suk Yeol concluded a week-long trip to the United Arab Emirates (UAE) and Switzerland that focused on economic diplomacy.

Yoon called for scientific and technological cooperation, including in research and development, when he met quantum physicists at the Swiss Federal Institute of Technology (ETH Zurich) in Zurich on Thursday afternoon, on the final leg of a four-day visit to Switzerland.

Yoon met with Koreans living in Europe in Zurich on Tuesday, had lunch with Korean and global business leaders, and promoted Busan’s bid to host Expo 2030 at a Korea Night event in Davos on Wednesday.

Speaking at a luncheon attended by leaders of South Korea’s six largest conglomerates and chief executives of 15 multinational and global companies, Yoon said he was South Korea’s “number one salesman”, stressing that his office was “always open”.

Speaking at the World Economic Forum (WEF) on Thursday morning, Yoon called for strengthening supply chains through “reciprocal solidarity”.

He urged sustainable economic prosperity through stable global supply chains, a transition to a low-carbon economy and global cooperation to close gaps in addressing health threats.

Yoon noted that South Korea will be an important partner in the global supply chain with its “world-class production technology and manufacturing capabilities in semiconductors, rechargeable batteries, steelmaking and biotechnology.”

South Korea’s adoption of “green” official development assistance (ODA) will help narrow technology and financial gaps among countries, enabling developing countries to adapt to climate change and reduce greenhouse gas emissions, he said.

Yin urged “the return of the global economic order to a free trade system based on universal norms, and the international community to strengthen solidarity and cooperation”.

He is the first South Korean president to attend Davos since 2014.

“By participating in the Davos Forum, President Yoon continued his economic diplomacy by presenting the future vision of South Korea’s economy to key global players,” National Security Advisor Kim Sung-han said at a news conference in Switzerland on Thursday night.

“Presenting at the forum as a South Korean leader for the first time in nine years and leading international discussions strengthens South Korea’s status as a globally important country.”

Kim added that in talks with global business leaders, Yoon expressed the South Korean government’s strong commitment to a market-driven economy and regulatory reforms, and asked them to expand investment in South Korea.

During Yoon’s trip to Davos, Denmark’s leading wind turbine manufacturer Vestas announced it would invest $300 million in South Korea and decided to move its Asia-Pacific headquarters to the country, according to the president’s office.

Germany’s Merck Life Sciences AG and Switzerland-based Novartis also discussed potential investments in South Korea worth about $500 million with Minister Lee on Thursday. Merck Life Sciences Chief Executive Matthias Heinzel said his company was reviewing South Korea as a prime candidate for a new biomaterial production plant.

South Korean President Yoon Hee-yeol, right, attends the annual World Economic Forum in Davos, Switzerland, on Thursday, the first South Korean leader to attend in nine years. [JOINT PRESS CORPS]

Yoon and first lady Kim Keon-hee began their eight-day visit in Abu Dhabi on January 14, accompanied by a business delegation representing 100 companies, including major South Korean conglomerates, But mostly SMEs.

This is the first state visit by a South Korean leader to a Middle Eastern country.

Following the summit, Yin and UAE President Mohamed bin Zayed Al Nahyan adopted a joint statement on Monday pledging to “deepen and further develop” the special strategic partnership between the two countries.

In the statement, the UAE announced a pledge to invest $30 billion in South Korea’s strategic sector through its sovereign wealth fund, underscoring its “confidence” in Seoul’s economic strength and growth prospects.

During the visit, the two countries signed 48 memorandums of understanding on nuclear power, energy and defense cooperation.

MOUs and contracts totaling more than $6.1 billion were signed at the Korea-UAE Business Forum, which was attended by some 320 businessmen from both countries, according to Malacañang.

Yin visited the Barakah nuclear power plant on Monday and attended a commemorative ceremony for the completion of the third reactor. The visit is seen as Yoon’s effort to revive South Korea’s nuclear power export momentum, with a South Korean company building a nuclear power plant in Abu Dhabi’s remote western desert that is a symbol of economic cooperation between the two countries.

“During this visit, the government and the private sector worked together as a team and achieved many achievements, such as export contracts, signing of memorandums of understanding and attracting investment,” said Lee Kwan-sub, senior secretary for presidential policy planning.

“The government plans to implement detailed follow-up measures,” including setting up support groups, holding investment cooperation forums and holding export strategy meetings.

Yoon, who left Zurich on Air Force One on Friday, was due to arrive in Seoul on Saturday, the first day of a four-day Lunar New Year holiday.

President Yoon Hee-yeol, left, and first lady Kim Kun-hee are greeted by United Arab Emirates (UAE) officials after arriving at Abu Dhabi International Airport in Abu Dhabi on Sunday. [PRESIDENTIAL OFFICE]

Sarah King [kim.sarah@joongang.co.kr]