ADIA teams up with South Korea for joint investments

30/03/2011 - Dubai Investment News Posted by Neil King
ADIA teams up with South Korea for joint investments
The Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, has agreed to team up with South Korea for the purpose of joint investments, Reuters reports.

The agreement could pave the way for South Korea's state-run funds to expand their presence in the global financial market.

According to Ahn Chang-kuk, an official at the Presidential Council for Future & Vision, the committee signed a memorandum of understanding with the Abu Dhabi government for partnership in securing the rights to develop oil fields.

This means that the ADIA will be able to invest through a local brokerage in South Korea, Mr Chang-kuk confirmed.

Earlier this week, the Abu Dhabi Tourism Authority agreed an associate partnership agreement with the MPI Foundation, the organisation dedicated to investing in people and programmes aligned with Meetings Professionals International.

The agreement will see the association undertake pioneering research of the emirate's meetings industry training needs, reports.ADNFCR-2019-ID-800481803-ADNFCR