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The South Korean government announced on January 31 that it will establish an investment cooperation platform with the United Arab Emirates to effectively implement the US$30 billion investment that South Korea has recently attracted.
The platform will consist of regular communication channels between the two countries and an Investment Cooperation Committee and the Korean Investment Cooperation Network as two public-private support providers.
Deputy Prime Minister Choo Kyung-ho and Abu Dhabi Administrative Authority Chairman Khaldoon Al Mubarak will be in regular contact. They are expected to hold offline conferences in the first half of this year, followed by investor presentations in the second half of the year.
The committee is likely to include the deputy prime minister and relevant ministers as well as experts from the private sector as well as the heads of the Financial Services Commission and the Korea Development Bank. Issues are expected to be discussed each quarter.
In this network, KDB is likely to act as the coordinator of Korea Investment Corporation, Korea Export-Import Bank, Korea Financial Investment Association, Korea Growth Investment Corporation, etc.
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