UAE company AG has signed a strategic partnership with South Korean investment firm Akbar to study the development of a dedicated Korean industrial zone in Abu Dhabi, with investments expected to exceed $1 billion.
The announcement came during a high-level Korean delegation visit to Abu Dhabi, led by Jeong Min Kim, a member of the Korean National Assembly and its committee on trade, industry, energy, small and medium enterprises, and startups. The delegation included representatives from government bodies, semi-government entities, and private investors.
Fifteen memoranda of understanding were signed with Korean companies and manufacturers operating across multiple industrial sectors. The zone, which is proposed for the city of Al Ain, is expected to accommodate more than 25 factories in its first phase.
The delegation held meetings with Abu Dhabi Investment Office and Khalifa Economic Zones Abu Dhabi (KEZAD), reviewing the emirate’s investment environment, infrastructure, and support facilities for industrial and technology projects. Meetings with Emirati business figures and investors were also held, alongside field tours of Abu Dhabi’s operational facilities.
Jeong Min Kim said the UAE, and Abu Dhabi in particular, had established itself as one of the most attractive and trusted investment destinations globally, citing the country’s economic vision, regulatory framework, and advanced infrastructure. He described the project as a strategic step toward deeper economic partnership between the two countries.
Dr. Ahmed Abdullah, CEO of AG, said the project reflects the UAE’s direction toward building a more diversified, knowledge-based economy. He added that attracting Korean industries is not purely an economic investment but an opportunity to transfer expertise, develop national talent, and strengthen the UAE’s position as a regional and global hub for industry and innovation.
Safwan Balas, board advisor at AG, said the nomination of Al Ain as the proposed site for the industrial zone reflects the UAE’s vision of broadening economic development and diversifying production centres, with direct and indirect benefits for the city’s residents.
