Korea in partnership with UAE

21 Jan 2010

The United Arab Emirates is bolstering ties with South Korea by signing a memorandum of understanding with STX Offshore and Shipbuilding and the Korea Shipbuilders’ Association with Abu Dhabi Shipbuilding (ADSB) for a business partnership.

Aimed at developing its shipbuilding business in the UAE, STX will provide supports in building an integrated operation system which is required when ADSB construct additional shipbuilding facilities. STX and ADSB will cooperate in developing human resources required for shipbuilding works.

The two shipbuilders also agreed to work together closely in marketing activities for orders of commercial ships, military vessels, offshore service vessel (OSV) placed in the Middle East region and exploring potential markets. They will launch a joint committee and working groups for different business areas to begin discussions for detailed action plans.

STX is expecting the partnership will pave the way to securing new business opportunities in resources development, port construction and new shipbuilding orders.

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