DAEJEON < invest Korea

According to Pulse by Maeil Business News Korea,

The Korea Advanced Institute of Science and Technology (KAIST) is pushing to open campuses in the United Arab Emirates (UAE) and Saudi Arabia after the two Gulf countries strengthened ties with Korea under the Yoon Suk-yeol government.

According to KAIST on Sunday, it is discussing a plan to join hands with Khalifa University to open a campus in the UAE. The institution has delivered a proposal to the UAE and the UAE government and Khalifa University are actively considering the plan.

KAIST is also in talks with Saudi Aramco, the state-owned oil company of Saudi Arabia, to set up a joint campus in the Gulf country. High-level officials from the two parties have exchanged opinions and launched working-level channels. The plan also includes setting up a department related to Aramco at KAIST in Daejeon in the central-west region of Korea.

KAIST’s move comes after President Yoon’s recent visit to the UAE where he received a $30 billion investment pledge. Yoon also met with Saudi Arabian Crown Prince Mohammed bin Salman in Seoul in November last year, which led to memoranda of understanding (MoUs) with Korean companies in 26 business areas.

“We shared the view with the UAE that nurturing talents in the science and technology sector is important,” said an unnamed official from KAIST. “There was also a discussion with a high-level official from Aramco on building a campus at Davos Forum.”

The UAE and Saudi Arabia are trying to reduce their dependence on oil. The opening of KAIST campuses in the countries are expected to help Korean companies take active part in large projects in new growth sectors based on science and technology such as space development, green city construction, software, and nuclear development.

“The UAE and Saudi Arabia are eager to expand research workforce in the science and technology sector,” said Shin Sung-chul, former president of KAIST. “There is much room for cooperation with Korea.”


By Chung Hee-young and Lee Eun-joo

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Feb. 6, 2023)