Generation
Posted By OrePulse
Published: 01 Dec, 2025 10:16
K-SURE to provide $2 bil. in financial support to UAE's largest oil company
Korea Trade Insurance (K-SURE) announced plans on Monday to provide $2 billion in financial support to Abu Dhabi National Oil Company (ADNOC). The funding is intended to assist Korean firms with business projects in the United Arab Emirates. In return, ADNOC will work to secure project orders for Korean companies and purchase Korean-made materials and equipment.
This agreement follows a memorandum of understanding (MOU) signed for strategic business cooperation during President Lee Jae Myung's visit to the UAE last month. Under that MOU, the two sides agreed to cooperate in facilitating exports of Korean goods and services related to artificial intelligence, renewable energy, and power grids to the Middle East.
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