President Sheikh Mohamed secures key deals with South Korean President Lee Jae Myung


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President Sheikh Mohamed welcomed South Korea's President Lee Jae Myung at an official reception at Qasr Al Watan in Abu Dhabi on Tuesday.

The leaders held talks on ways to enhance co-operation and advance the strategic relationship and Comprehensive Economic Partnership Agreement (Cepa) between the UAE and South Korea, state news agency Wam reported.

The meeting focused on the economic, trade and investment sectors, along with renewable energy. They also discussed technology, artificial intelligence, sustainability, education and culture, before underscoring the importance of supporting peace around the world.

Sheikh Mohamed described South Korea as a leading trade partner, while Mr Lee spoke of the strong ties between the nations before signing the VIP guestbook.

Seven agreements were secured:

  1. A strategic AI co-operation framework.
  2. Agreement on co-operation in the field of AI.
  3. Co-operation project between the UAE Space Agency and the Korea AeroSpace Administration.
  4. An agreement in the field of biohealth.
  5. An agreement on the administration and operation of the UAE-Korea Economic Co-operation Committee.
  6. A co-operation arrangement in the field of intellectual property.
  7. A partnership to strengthen nuclear energy, AI and global market co-operation.

Historic visit

Mr Lee arrived in the UAE on Monday to begin a state visit. Sheikh Mohamed accompanied Mr Lee at Qasr Al Watan, where the national anthems of both countries were played.

A 21-gun salute was fired, with a guard of honour welcoming the South Korean leader. Al Fursan, the UAE Air Force’s aerobatic display team, carried out a fly-past at Qasr Al Watan as part of the occasion.

Emirati folk groups performed traditional songs and dances and children lined the route, waving the flags of the two nations. The South Korean President was also treated to a performance of the famous Emirati hair dance.

The Emirati delegation included Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi; Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior; Sheikh Theyab bin Mohamed, Deputy chairman of the Presidential Court for Development and Fallen Heroes’ Affairs; Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs; and Sheikh Mohammed bin Hamad, Adviser to the President.

Mr Lee also paid a visit to Sheikh Zayed Grand Mosque, Wam reported on Tuesday. The South Korean President and his delegation were welcomed by Dr Yousif Abdallah Alobaidli, director general of Sheikh Zayed Grand Mosque Centre.

He was accompanied on the trip by Khaldoon Al Mubarak, chairman of the UAE’s Executive Affairs Authority, and Abdulla Al Nuaimi, UAE ambassador to South Korea.

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Yuval Noah Harari, Jonathan Cape
 

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Types of bank fraud

1) Phishing

Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

2) Smishing

The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

3) Vishing

The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

4) SIM swap

Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

5) Identity theft

Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

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Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Updated: November 19, 2025, 7:54 AM