Dubai Chamber of Commerce to open Seoul office

The Dubai Chamber of Commerce in the United Arab Emirates (UAE) will open an office in Seoul, South Korea by May this year, according to industry sources on Tuesday.

Established in 1965, the Dubai Chamber of Commerce functions similarly to South Korea's Chamber of Commerce and Industry, representing the UAE.

When South Korean President Yoon Suk Yeol and business leaders visited the UAE last year, the nation pledged to invest $30 billion in South Korea.

The South Korean Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport visited the UAE to discuss specific cooperation plans with local government and business representatives.

Industry insiders view the Dubai Chamber of Commerce' entry into Korea as positive news for South Korean companies.

Seoul mainly hosts chambers of commerce from European and English-speaking countries. Chambers from the United States, Canada, Germany, France, Italy, the Netherlands, Sweden, Australia, New Zealand and others have already established a presence.

The Dubai Chamber will be the 17th foreign chamber of commerce to enter South Korea.

Write to Hyung-Kyu Kim at khk@hankyung.com