South Korean tech firms eye DSO to set up operations in the region

This was conveyed to Dr. Mohammed Al Zarouni, CEO, DSO during his recent visit to Seoul, Republic of Korea (ROK).

During the visit, a high level delegation headed by Dr. Zarouni also called on the Deputy Prime Minister of Korea, Dr. Myung Oh to discuss about cooperation in various sectors between ROK and Dubai, especially in technology transfer and setting up of research and development facilities in Dubai.

Commenting on the meeting Dr. Zarouni said, 'The UAE and the Republic of Korea share a long history of bilateral trade. We now wish to take this relationship to a higher level by way of technology transfers and joint ventures. Korea is a super power when it comes to high technology products and by partnering with them we can exchange our technical expertise in the fields of semi conductor research and micro electronics.'

South Korean officials have expressed their interest in setting up cooperative agreements or cooperation in the area of technology transfer from South Korea to Dubai. As a result, a high level delegation will be sent to Dubai to study Dubai Silicon Oasis, its facilities and projects and finalise ways Korea can contribute to DSO.

Another highlight of Dr. Zarouni's Seoul visit was his meeting with senior representatives from Korean banks who showed keen interest in investing in certain high tech projects in DSO. 'Many of our projects were greatly appreciated by the senior officials from some leading banks in South Korea. The investment that they propose to make will be in the form of funding and initial investment for our projects,' added Zarouni.

A Memorandum of Understanding (MoU) was also signed by Dr. Zarouni with a major high technology Research and Development firm in Korea. The MoU will facilitate transfer of technology and enhanced cooperation in the field of IT and semiconductors.

'A growing number of international companies are recognising that Dubai's expanded business horizons cover many of the most interesting emerging markets for the future. Dubai has world-class infrastructure and vast resources that can accommodate and sustain huge investments in various fields like IT, healthcare, tourism, research, automobiles and others. Dubai can provide a strong foundation for the expansion of Korean business activities and investment in the region. By investing in research and development and facilitating transfer of technology, the Republic of Korea and the Gulf States can share a very mutually beneficial relation, ' concluded Dr. Zarouni.