Officials in the Ministry of Finance of the UAE published a report saying that the economic and investment relations between the United Arab Emirates and the Republic of Korea have grown significantly.

According to Amac News, the ministry said that the non-oil trade between the two countries reached 5.3 billion dollars in 2023, which was a 12.5% increase compared to the same period last year.
According to the report, Korean investment in the UAE increased to $2.2 billion, while the UAE's investment in Korea had reached $578 million by the end of 2022.
The United Arab Emirates is Korea's second largest Arab trade partner and its fourteenth in the world, accounting for 20% of the East Asian country's trade with Arab countries.
The report further states that the Republic of Korea is the 10th non-oil trade partner of the United Arab Emirates among non-Arab Asian countries and the 30th global trade partner.
In the framework of its strategic partnership, the United Arab Emirates made 30 billion dollars of independent investment in strategic sectors of Korea in January 2023.
The report noted that the United Arab Emirates and the Republic of Korea concluded negotiations on the Comprehensive Economic Partnership Agreement (CEPA) in October 2023, which will increase their trade and investment cooperation and promote the economic growth of both countries.