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| Samsung Electronics Vice Chairman Lee Jae-yong offers condolences to late UAE President Sheik Kahlifa bin Zayed Al Nahyan at the Embassy of the United Arab Emirates in Seoul on Tuesday. Yonhap |
By Kim Jae-heun
Samsung Electronics Vice Chairman Lee Jae-yong paid a visit to the Embassy of the United Arab Emirates in Seoul, Tuesday, offering condolences for UAE President Sheikh Khalifa bin Zayed Al Nahyan, who passed away on May 13.
Lee is said to have had a cordial relationship with the UAE leader when he was alive, according to industry watchers. The vice chairman also has a special bond with Abu Dhabi Crown Prince Sheik Mohammed bin Zayed Al Nahyan, who took over the leadership after his father collapsed from a stroke in 2014.
When the crown prince visited Samsung Electronics' worksite in Hwaseong, Gyeonggi Province, in February 2019, Lee personally showed him through the company's production facilities and exhibition halls for 5G technology and semiconductors.
Lee also visited Abu Dhabi on Feb. 11, 2019, shortly before the crown prince's visit, and also attended a closed forum held in the UAE December last year.
The UAE established an innovation project called UAE Vision 2021 in 2010, which it has been promoting to reduced its dependence on oil resources and prepare for the future.
In addition, the UAE has organized a strategic plan to lead the Fourth Industrial Revolution as a global hub in September 2017.
Abu Dhabi has invested $18 billion to build Masdar City, a smart city project in the country.
Samsung Electronics is focusing on strengthening its cooperation with the UAE as it expects a new market to open there in the sector of information and communication technology, especially concerning 5G and semiconductors.
Samsung Group has forged a close business partnership with the UAE's construction and engineering companies, as its Samsung C&T built Burj Khalifa in 2010, and Samsung Engineering is currently working on an oil refining plant project there.
