On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates had pledged a staggering $30 billion in investment in the Asian country. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office. Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products. ‘Most urgent task of our time’The flurry of deals came just days before Yoon addressed the World Economic Forum in Davos, Switzerland, where he discussed the importance of repairing global supply chains. Going forward, South Korea “will be a key partner in the global supply chain,” using its expertise in sectors such as semiconductors and steel-making to help stabilize supply chains, he pledged.

Source: CNN January 20, 2023 09:08 UTC