As a former captain of industry, the South Korea president, Lee Myung-bak, will have watched with satisfaction as his country's chaebol - a large, family business conglomerate - staked a claim in the UAE's growth story.
During Mr Lee's presidency, Samsung helped build the Burj Khalifa, the world's tallest tower, while vehicles made by Hyundai and Kia have become a common sight on the country's roads. Few homes are without Samsung or LG appliances, too.
Now, as Mr Lee this week makes what is likely to be his final visit to the UAE before his five-year term in office ends in February, both nations are seeking to accelerate the broadening swath of commercial ties beyond trade.
"Mr Lee is a former CEO of a construction company so construction has been a particular area of focus for him," says Sang Hyun Lee, the director general for policy planning at South Korea's ministry of foreign affairs and trade. "But the UAE-Korea partnership is quite strategic and I expect it to continue over the coming decades."
Examples of the growing sophistication of relations came in 2009 when a consortium led by Korea Electric Power Corporation (Kepco) won a US$20.4billion (Dh75bn) contract to build four nuclear reactors in the UAE. In March, Korea National Oil Corporation and GS Energy, two Korean oil companies, secured exploration rights to develop three oil fields in Abu Dhabi.
To some extent, the two economies have a lot in common. Both have developed fast to become global players in recent decades. But while the UAE's development has been propelled by oil wealth, South Korea has had little resource base to fall back on. As a result, it has had to carve out new industries from scratch. It has established itself as a world leader in the building of everything from ships to cars to mobile phones, something the UAE aims to emulate.
tarnold@thenational.ae
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products
ENGLAND SQUAD
For first two Test in India Joe Root (captain), Jofra Archer, Moeen Ali, James Anderson , Dom Bess, Stuart Broad , Rory Burns, Jos Buttler, Zak Crawley, Ben Foakes, Dan Lawrence, Jack Leach, Dom Sibley, Ben Stokes, Olly Stone, Chris Woakes. Reserves James Bracey, Mason Crane, Saqib Mahmood, Matthew Parkinson, Ollie Robinson, Amar Virdi.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
THREE
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WITHIN%20SAND
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The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
The biog
Date of birth: 27 May, 1995
Place of birth: Dubai, UAE
Status: Single
School: Al Ittihad private school in Al Mamzar
University: University of Sharjah
Degree: Renewable and Sustainable Energy
Hobby: I enjoy travelling a lot, not just for fun, but I like to cross things off my bucket list and the map and do something there like a 'green project'.