S. Korea's presidential Blue House says Abu Dhabi Crown Prince granted US$25 bil. worth energy, oil contracts to S. Korean firms
- 6 years ago
President Moon Jae-in is in the UAE for his first official visit to the Middle East since taking office last year.
As President Moon nears the end of his trip, the Blue House says the Crown Prince of Abu Dhabi has ordered his aides to ink 25 billion U.S. dollars worth of contracts with South Korean firms.
Our Moon Connyoung reports.
"The United Arab Emirates. Although its ties with South Korea stretch back nearly 40 years, it’s only in the last decade or so that their relations got stronger.
Well, that partnership got bumped up to a whole new level... in the desert sand dunes of Barakah roughly 240 kilometers away."
From the capital Abu Dhabi... a roughly three hour drive through endless sand dunesstands a nuclear power plant under construction.
This is the Barakah Nuclear Power Plant. A 20 billion U.S. dollar nuclear plant which is Seoul’s first attempt to build an atomic reactor abroad.
The first of its four reactors, being built in the UAE's western desert near the Saudi border is scheduled to come online this year... making it the first nuclear power plant on the Arabian Peninsula.
But, it's more than that. It's a symbol of trust between South Korea and the UAE... according to the leaders of the two countries.
South Korean President Moon Jae-in traveled to Barakah on the third day of his four-day official visit to the UAE... and accompanying him Crown Prince Mohammed bin Zayed Al-Nahyan of Abu Dhabi.
There, the two leaders declared work on the first reactor at Barakah complete.
"Crown Prince Mohammed has placed full confidence in our expertise. He's promised to give preference to South Korean firms in future projects west of Abu Dhabi."
The South Korean president said the UAE has vowed to vouch for South Korea... as Saudi Arabia is slated to prequalify several international companies next month to bid for building two nuclear reactors.
Crown Prince Mohammed took to Twitter to thank President Moon for his country's cooperation in the nuclear plant project... saying the achievement is historical for the UAE energy sector and said their work together is an exceptional "model relationship."
Senior Blue House officials traveling with the president unveiled that the powerful Crown Prince of Abu Dhabi has given his word that 25-billion U.S. dollars worth of various projects will be given to South Korean firms.
Sources familiar with the issue say these are contracts that had been put on hold by the UAE over its objection regarding a possible change to a secret military cooperation deal made between Seoul and Abu Dhabi under the Lee Myung-bak administration in 2009.
If true, the 25 billion dollar greenlight from Crown Prince Mohammed may be a signal that any kind of issues there may have had been - whether military or not - haven been smoothed out completely during Mr. Moon's visit to the Gulf nation.
"From mending the fences to rebuilding trust and friendship between the two countries, the two leaders... it looks like
As President Moon nears the end of his trip, the Blue House says the Crown Prince of Abu Dhabi has ordered his aides to ink 25 billion U.S. dollars worth of contracts with South Korean firms.
Our Moon Connyoung reports.
"The United Arab Emirates. Although its ties with South Korea stretch back nearly 40 years, it’s only in the last decade or so that their relations got stronger.
Well, that partnership got bumped up to a whole new level... in the desert sand dunes of Barakah roughly 240 kilometers away."
From the capital Abu Dhabi... a roughly three hour drive through endless sand dunesstands a nuclear power plant under construction.
This is the Barakah Nuclear Power Plant. A 20 billion U.S. dollar nuclear plant which is Seoul’s first attempt to build an atomic reactor abroad.
The first of its four reactors, being built in the UAE's western desert near the Saudi border is scheduled to come online this year... making it the first nuclear power plant on the Arabian Peninsula.
But, it's more than that. It's a symbol of trust between South Korea and the UAE... according to the leaders of the two countries.
South Korean President Moon Jae-in traveled to Barakah on the third day of his four-day official visit to the UAE... and accompanying him Crown Prince Mohammed bin Zayed Al-Nahyan of Abu Dhabi.
There, the two leaders declared work on the first reactor at Barakah complete.
"Crown Prince Mohammed has placed full confidence in our expertise. He's promised to give preference to South Korean firms in future projects west of Abu Dhabi."
The South Korean president said the UAE has vowed to vouch for South Korea... as Saudi Arabia is slated to prequalify several international companies next month to bid for building two nuclear reactors.
Crown Prince Mohammed took to Twitter to thank President Moon for his country's cooperation in the nuclear plant project... saying the achievement is historical for the UAE energy sector and said their work together is an exceptional "model relationship."
Senior Blue House officials traveling with the president unveiled that the powerful Crown Prince of Abu Dhabi has given his word that 25-billion U.S. dollars worth of various projects will be given to South Korean firms.
Sources familiar with the issue say these are contracts that had been put on hold by the UAE over its objection regarding a possible change to a secret military cooperation deal made between Seoul and Abu Dhabi under the Lee Myung-bak administration in 2009.
If true, the 25 billion dollar greenlight from Crown Prince Mohammed may be a signal that any kind of issues there may have had been - whether military or not - haven been smoothed out completely during Mr. Moon's visit to the Gulf nation.
"From mending the fences to rebuilding trust and friendship between the two countries, the two leaders... it looks like