Trade between the UAE and South Korea climbed by more than 24 per cent to US$22.1 billion (Dh81.1bn) last year amid high oil prices and cooperation between the two nations in areas from energy to security.
What is more, construction contracts won by South Korean companies in the Emirates totalled $25.6bn in 2010, making the UAE the most lucrative nation for Korean contractors, according to figures from the South Korean Embassy in Abu Dhabi.
Amid the boom in trade, Lee Myung-bak, the South Korean president, is set to visit the UAE for energy talks next week as the country with few natural resources seeks more access to oil reserves in the Gulf. He is also due to tour Turkey, Saudi Arabia and Qatar, starting on Saturday, the president's office said yesterday.
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