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President Yoon Xi-yeol reportedly called former President Lee Myung-bak last week after visiting the United Arab Emirates and Switzerland on January 21. Yoon told Lee that he would continue to build on the UAE’s economic-diplomatic achievements, which required a U.S. commitment to invest $30 billion in South Korea. The Blue House stated that the “asset trust” established with the UAE during Lee’s tenure was of great significance and is considering how to play a role in President Yoon’s “sell diplomacy”.
“Last week, President Yoon had a phone call with former President Lee Myung-bak and talked about the outcomes of his visit, including the United Arab Emirates’ pledge to invest $30 billion in South Korea,” a Cheong Wa Dae official told the Dong-A Ilbo on Sunday. “We understand that President Yoon is urging former President Lee to continue to pay attention, as the latter has a deep relationship of trust with the UAE.” UAE President Sheikh Mohamed bin Zayed Al Nahyan reportedly asked President Yoon Lee’s health condition and asked Yoon to convey his regards to Lee during the current president’s state visit to the United Arab Emirates.
Lee Jae-yong is said to have laid the groundwork for bilateral trust between South Korea and the United Arab Emirates during his tenure in 2009 by exporting the Middle East’s first nuclear power plant, the Barakah Nuclear Power Plant. Yin visited the Barakah plant in person and presented 100 of his presidential watches to workers there during his visit. When Presidential Chief of Staff Kim Dae-ki visited the United Arab Emirates as Yoon’s special envoy late last year, he delivered not only Yoon’s personal letter but also Lee’s.
A person from the Blue House and the ruling party said, “It would be great if former President Lee Myung-bak served as a ‘Middle East envoy’ and contributed to export diplomacy and increased trust.” “South Korea should continue to strengthen the Natural resource diplomacy,” said a source in the Oval Office. “Former President Lee should recover first.”
According to reports, President Yoon will host an export strategy meeting to examine the results of his trip and will soon review the direction of the UAE’s $30 billion investment in South Korea. “We must change the rules and regulations that hinder foreign investment companies from investing in the country,” President Yoon instructed Justice Minister Han Dong-hoon at a briefing by President Han Dong-hoon on Thursday.
Kwan-Seok Jang jks@donga.com
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