Korea, UAE to cooperate on stable supply of key resources

South Korea and the United Arab Emirates signed an agreement to strengthen cooperation on stable oil and naphtha supplies, strategic oil reserves, and AI adoption in petrochemicals. Industry Minister Kim Jung-kwan met with UAE counterpart Sultan Al Jaber, who also leads ADNOC, to expand ties in nuclear energy and advanced industries.

Korea and the United Arab Emirates UAE have signed an agreement to strengthen their strategic partnership in key resource supply chains and the adoption of artificial intelligence AI in the petrochemical industry, the trade ministry said Wednesday. Industry Minister Kim Jung-kwan met with his UAE counterpart, Sultan Al Jaber, to discuss measures to ensure a stable supply of crude oil and naphtha, as well as expand strategic cooperation in nuclear energy, energy infrastructure and other advanced industries, the Ministry of Trade, Industry and Resources said in a press release. Al Jaber also serves as chief executive officer of the Abu Dhabi National Oil ADNOC , the state-run oil company of Abu Dhabi. The agreement between the Korean government and ADNOC focuses on strengthening bilateral cooperation in securing stable oil supplies and jointly maintaining strategic oil inventories for use in emergencies, including geopolitical crises such as the U.S.-Iran conflict, the ministry said. The ministers also discussed cooperation in applying AI technologies to the refining and petrochemical