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Finance Ministry Signs MOU with Mubadala Investment

Written: 2024-05-29 15:25:36Updated: 2024-05-29 16:29:29

Finance Ministry Signs MOU with Mubadala Investment

Photo : YONHAP News

The finance ministry signed a memorandum of understanding(MOU) with a sovereign wealth fund of the United Arab Emirates(UAE) on Wednesday to seek joint opportunities in future-oriented business fields. 

Under the MOU, the government will support Mubadala Investment Co. and its efforts to explore new investment opportunities in South Korea, including those in future technologies and small and medium-sized enterprises.

The CEO of Mubadala Khaldoon Khalifa Al Mubarak said in a statement that South Korea remains one of the world's most vibrant and dynamic economies that offers compelling financial returns through its wide range of investment opportunities.

Finance minister Choi Sang-mok emphasized that the agreement shows that successful Korean companies have the ability to attract investments from leading global investors, adding that the MOU will further contribute to solidifying the strategic partnership between the two countries.

Mubadala Investment currently manages investments worth 302 billion U.S. dollars.

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