Ministry of Trade Industry and Resources

Minister JK (Jung-Kwan) Kim of the Ministry of Trade, Industry and Resources (MOTIR) met with Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates (UAE) and Group CEO of the Abu Dhabi National Oil Company (ADNOC), on July 8, 2026. The two ministers discussed ways to stabilize critical resource supply chains and expand industrial cooperation.

Korea and the UAE have deepened their strategic partnership through a series of high-level exchanges, including the Korean President’s state visit to the UAE in November 2025, Minister Kim’s visit in June 2026, and the visit by the Presidential Special Envoy for Strategic Economic Cooperation in March 2026. Cooperation has expanded across critical resources such as crude oil and naphtha, as well as nuclear power, energy infrastructure, and advanced industries. On the occasion of Minister Al Jaber’s visit to Korea, the two sides reviewed the key areas of cooperation they have advanced so far to maintain momentum, and held more detailed discussions on shared interests, including AI and energy infrastructure.

During the meeting, the two ministers signed the agreement on strategic cooperation between MOTIR and ADNOC on the crude oil supply chain. Covering stable crude oil supply, emergency response measures, and joint stockpiling, the agreement sets out their commitment to build crude oil security cooperation that remains reliable even during crises, including conflicts in the Middle East. The signing comes as Middle East tensions have somewhat eased since the United States and Iran signed a memorandum of understanding on ending hostilities on June 17, 2026. The agreement is expected to further deepen bilateral cooperation on energy and resource security.

The two sides also discussed cooperation on AI adoption in the refining and petrochemical industries, where both countries have strengths. Minister Kim introduced Korea’s AI transformation project for the petrochemical industry in the Ulsan-Mipo Industrial Complex, as well as examples from Korean refining and petrochemical companies leading AI adoption. He noted similarities between ADNOC’s strategy to scale AI across all crude oil-related operations and Korea’s Manufacturing AI Transformation (M.AX) policy, and proposed identifying practical cooperation projects between relevant companies and institutions in the two countries.

The meeting also covered energy infrastructure projects currently being pursued by the UAE, including the expansion of oil and gas storage and transport infrastructure that bypasses the Strait of Hormuz. Minister Kim noted that Korean companies are exploring various forms of participation, including EPC contracts, in the UAE’s key projects, and asked the UAE side to consider and support their participation in related projects going forward.

“Although the situation in the Middle East is changing, securing stable supply chains for critical resources remains one of the most important tasks for Korea’s economic security. Korea needs to further strengthen its strategic partnership with the UAE, a major energy supplier,” Minister Kim said. “We also need to broaden the scope of cooperation beyond critical resource supply chains by exploring new possibilities and opportunities in advanced industries such as AI. Building on this meeting, MOTIR will work closely with the UAE to deliver concrete outcomes,” he added.