S. Korea signs shipbuilding, semiconductor MOUs with UAE

SEOUL, Jan. 20 (Yonhap) -- South Korea has signed agreements with the United Arab
Emirates (UAE) to expand cooperation in the shipbuilding and semiconductor
sectors as part of effort to forge a strategic partnership with the Middle
Eastern country, the government said Wednesday.

The memorandums of understanding (MOUs) signed Tuesday call for comprehensive
cooperation in the manufacturing, research and development (R&D), and sales
areas, the Ministry of Knowledge Economy said.
South Korea dispatched a government-business delegation to the UAE on Saturday to
discuss ways to further develop their ties after the country decided to buy four
South Korean nuclear reactors for US$20 billion late last year.
In the shipbuilding sector, STX Offshore and Shipping Co. signed a pact with Abu
Dhabi Shipbuilding calling for joint marketing of vessels, cooperation in the
building of ships and related systems, and tie-ups to enhance the UAE's ability
to design boats.
South Korea is a leader in the building of commercial ships, while the UAE wants
to build up a manufacturing infrastructure that can augment its energy resources.
The Korea Semiconductor Industry Association, meanwhile, said that it signed an
MOU with the UAE's Advanced Technology Investment Co. to establish close
personnel exchanges, educational programs, R&D arrangements and corporate
networking in computer chips dominated by local companies in the UAE.
Vice Knowledge Economy Minister Kim Young-hak headed the delegation made up of 27
representatives from South Korean firms, including Hyundai Heavy Industries Co.,
Samsung Electronics Co., and Doosan Heavy Industry & Construction Co.
yonngong@yna.co.kr
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