Shurooq, Korea’s REI Holding sign MoU on investments
Deal aims to encourage collaboration and expand business networks
Sharjah Investment and Development Authority (Shurooq) signed a second memorandum of understanding with Korea’s global investment corporation REI Holding Group, to encourage bilateral investments.
The memorandum also aims to encourage collaboration on industry information and expand business networks in both the UAE and South Korea.
The agreement follows an earlier one between Shurooq and REI’s Haewon Medical Foundation Sejong General Hospital to establish the first Korean hospital in Sharjah. South Korea had earlier stressed its commitment to expanding cooperation with the UAE in new sectors as both countries push ahead with strategic plans to further develop their economies.
“The Republic of Korea is one of Asia’s powerhouse economies with a dominant role in technology and the fourth industrial revolution in particular, two of the pivotal components of Sharjah’s digital integration strategy. Once again, through this relationship, Sharjah is creating an even greater footprint on a worldwide stage,” said Marwan Bin Jasem Al Sarkal, executive chairman of Shurooq.
Meanwhile, Soon Bong Hong, chairman of REI Holding Group, said that Sharjah’s economy and business infrastructure provide a perfect environment for the two parties to work together on joint investments. “The mutual benefit of exchanging industry data, extending networks, sharing technology expertise and organising events will open up a new platform for investment and increase opportunities exponentially,” he said.