Masdar, Korean agency to collaborate on renewables

ABU DHABI / WAM

Masdar, Abu Dhabi Future Energy Company, announced the signing of a Memorandum of Understanding (MoU) with the Korea Energy Agency (KEA) for renewable energy collaboration and investment between the South Korea and the UAE.
Mohamed Jameel Al Ramahi, Masdar’s CEO and Dr. Nam Hoon Kang, President and CEO of KEA, signed the MoU, which coincided with the President of Korea Moon Jae-in’s four-day visit to the UAE and his first to the Middle East since his election last year.
Under the terms of the agreement, Masdar and KEA aim to establish a potential strategic partnership to encourage renewable energy investment in South Korea and to develop a number of renewable energy projects using solar, wind, energy storage, floating solar power and waste-to-energy technologies, among others.
“Masdar is proud to collaborate with industry leaders and like-minded companies that share the same values and goals as Masdar. Our partnership with the Korea Energy Agency will allow us to strengthen our relationship with Korea and accelerate the deployment of renewable energy and new energy industry projects to improve energy security and spur innovation in smart urban development,” said Al Ramahi.
Both parties have also agreed to the possibility of expanding the scope of the collaboration in the future and will exchange expertise in the renewable energy and new energy industry fields covering energy auditing, smart grids, energy storage and other related areas.
Dr. Kang said, “We are pleased to enter into this partnership with Masdar, which will lay the foundation for mutually beneficial cooperation. Utilising Masdar and KEA’s specialist knowledge and expertise will enable the Republic of Korea to advance its renewable energy goals.”

Jafza, South Korean firms to explore SME opportunities
DUBAI / WAM

Jebel Ali Free Zone (Jafza) partnered with the Small and Medium Business Corporation (SBC) of South Korea to support investment opportunities and industrial cooperation for small businesses.
The two organisations have agreed to work together to support SME business development programmes and to foster closer trade ties between the two countries.
As part of a Memorandum of Understanding (MoU), Jafza and SBC will exchange information on investment between industries in both countries in an effort to attract and assist more South Korean SMEs to set up in the UAE.
As part of the agreement, Jafza’s role extends beyond free zone facilities to helping inves-tors identify potential business partners, nurture technology transfer, joint ventures and strategic alliances.