• President Sheikh Mohamed and South Korean President Yoon Suk Yeol attend a state visit reception at Qasr Al Watan on Sunday, January 15. All photos: UAE Presidential Court
    President Sheikh Mohamed and South Korean President Yoon Suk Yeol attend a state visit reception at Qasr Al Watan on Sunday, January 15. All photos: UAE Presidential Court
  • Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, and Changyang Lee, Minister of Trade, Industry and Energy of South Korea exchange an agreement
    Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, and Changyang Lee, Minister of Trade, Industry and Energy of South Korea exchange an agreement
  • Tareq Al Hosani, board member of Taqa, and a South Korean counterpart exchange an agreement
    Tareq Al Hosani, board member of Taqa, and a South Korean counterpart exchange an agreement
  • Sheikh Mohamed with Mr Yoon
    Sheikh Mohamed with Mr Yoon
  • Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Sheikh Hamdan bin Mohamed bin Zayed and Sheikh Hamed bin Zayed, Managing Director of Abu Dhabi Investment Authority and Abu Dhabi Executive Council member at Qasr Al Watan
    Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Sheikh Hamdan bin Mohamed bin Zayed and Sheikh Hamed bin Zayed, Managing Director of Abu Dhabi Investment Authority and Abu Dhabi Executive Council member at Qasr Al Watan
  • Sheikh Mohamed receives Mr Yoon and First Lady Kim Keon-hee
    Sheikh Mohamed receives Mr Yoon and First Lady Kim Keon-hee
  • Sheikh Mohamed with Mr Yoon.
    Sheikh Mohamed with Mr Yoon.
  • Sheikh Mohamed and Mr Yoon with senior officials, including Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of Adnoc, Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology, and Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade
    Sheikh Mohamed and Mr Yoon with senior officials, including Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of Adnoc, Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology, and Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade
  • Sheikh Mohamed greets a member of Al Forsan aerobatic team
    Sheikh Mohamed greets a member of Al Forsan aerobatic team
  • Sheikh Mohamed, Mr Yoon and Ms Kim with members of Al Forsan aerobatic team
    Sheikh Mohamed, Mr Yoon and Ms Kim with members of Al Forsan aerobatic team
  • Sheikh Mohamed, Mr Yoon and Ms Kim
    Sheikh Mohamed, Mr Yoon and Ms Kim
  • Sheikh Mohamed greets members of the South Korean delegation
    Sheikh Mohamed greets members of the South Korean delegation
  • Mr Yoon signs the guest book
    Mr Yoon signs the guest book
  • Singers and musicians participate in a cultural show
    Singers and musicians participate in a cultural show
  • Sheikh Mohamed, Mr Yoon and Ms Kim Keon Hee stand for the national anthem
    Sheikh Mohamed, Mr Yoon and Ms Kim Keon Hee stand for the national anthem
  • Sheikh Mohamed, Mr Yoon and Ms Kim stand for the national anthem
    Sheikh Mohamed, Mr Yoon and Ms Kim stand for the national anthem
  • The UAE's Armed Forces Honour Guard at the state visit reception for Mr Yoon
    The UAE's Armed Forces Honour Guard at the state visit reception for Mr Yoon
  • Traditional dancers at the reception
    Traditional dancers at the reception
  • Mr Yoon is on a four-day official visit
    Mr Yoon is on a four-day official visit
  • Camel riders welcome the vehicle escorting Mr Yoon
    Camel riders welcome the vehicle escorting Mr Yoon
  • UAE Armed Forces perform a 21-gun salute
    UAE Armed Forces perform a 21-gun salute
  • The Al Forsan aerobatic team perform a fly-by for the arrival of Mr Yoon
    The Al Forsan aerobatic team perform a fly-by for the arrival of Mr Yoon
  • Sheikh Mohamed and Mr Yoon will explore ways to bolster co-operation in line with their strategic partnership
    Sheikh Mohamed and Mr Yoon will explore ways to bolster co-operation in line with their strategic partnership
  • Sheikh Mohamed receives Mr Yoon and Ms Kim at Qasr Al Watan
    Sheikh Mohamed receives Mr Yoon and Ms Kim at Qasr Al Watan
  • Sheikh Mohamed greets Ms Kim
    Sheikh Mohamed greets Ms Kim
  • Sheikh Mohamed receives Mr Yoon
    Sheikh Mohamed receives Mr Yoon
  • Mr Yoon greets schoolchildren
    Mr Yoon greets schoolchildren
  • Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, receives Mr Yoon
    Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, receives Mr Yoon
  • Sheikh Abdullah receives Mr Yoon and the first lady at the Presidential Airport in Abu Dhabi. Sheikh Abdullah is accompanied by Khaldoon Al Mubarak, member of the Abu Dhabi Executive Council, chairman of the Executive Affairs Authority and managing director and group chief executive of Mubadala Investment Company
    Sheikh Abdullah receives Mr Yoon and the first lady at the Presidential Airport in Abu Dhabi. Sheikh Abdullah is accompanied by Khaldoon Al Mubarak, member of the Abu Dhabi Executive Council, chairman of the Executive Affairs Authority and managing director and group chief executive of Mubadala Investment Company
  • Mr Yoon arrived in Abu Dhabi on Saturday
    Mr Yoon arrived in Abu Dhabi on Saturday
  • His visit will formally begin on Sunday, state news agency Wam reported
    His visit will formally begin on Sunday, state news agency Wam reported
  • Noura Al Kaabi, Minister of Culture and Youth, greets the South Korean President after his arrival at the airport in Abu Dhabi. In the background is Suhail Al Mazrouei, Minister of Energy and Infrastructure
    Noura Al Kaabi, Minister of Culture and Youth, greets the South Korean President after his arrival at the airport in Abu Dhabi. In the background is Suhail Al Mazrouei, Minister of Energy and Infrastructure
  • Sheikh Abdullah, Mr Yoon and Ms Kim with Mr Al Mazrouei, Ms Al Kaabi, Mr Al Mubarak and other officials
    Sheikh Abdullah, Mr Yoon and Ms Kim with Mr Al Mazrouei, Ms Al Kaabi, Mr Al Mubarak and other officials
  • Mr Al Mazrouei welcomes Mr Yoon
    Mr Al Mazrouei welcomes Mr Yoon
  • Abdullah Al Nuaimi, UAE Ambassador to the Republic of South Korea, chats with Mr Yoon
    Abdullah Al Nuaimi, UAE Ambassador to the Republic of South Korea, chats with Mr Yoon
  • The South Korean leader will meet a number of state officials and visit development projects during the trip, Wam said
    The South Korean leader will meet a number of state officials and visit development projects during the trip, Wam said

South Korea's Yoon Suk Yeol meets President Sheikh Mohamed in Abu Dhabi during state visit


  • English
  • Arabic

South Korean President Yoon Suk Yeol was welcomed to Abu Dhabi by President Sheikh Mohamed as he embarked on a four-day visit.

He was accompanied by first lady Kim Keon-hee, and together they attended an official reception ceremony at Qasr Al Watan on Sunday.

The occasion included a performance of the South Korean national anthem, followed by 21-artillery rounds fired, and guards of honour lining up to salute the distinguished guest.

"I was pleased to welcome President Yoon Suk Yeol to the UAE," Sheikh Mohamed said.

"We had fruitful discussions and witnessed the signing of several agreements and MOUs.

"Our Special Strategic Partnership with the Republic of Korea will continue to strengthen and serve our common interests and goals."

Mr Yoon was greeted on Saturday at the Presidential Airport by Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, Khaldoon Mubarak, chairman of the Executive Affairs Authority and member of the Executive Council, and Abdullah Al Nuaimi, UAE ambassador to the Republic of Korea.

Emirati fighter jets accompanied the plane carrying the South Korean president as it entered the UAE's airspace to greet the country's guest.

The visit formally began on Sunday, state news agency Wam said.

Mr Yoon will hold talks with President Sheikh Mohamed and is here for Abu Dhabi Sustainability Week, which runs from January 14 to 19.

Sheikh Mohamed and Mr Yoon will explore ways to bolster co-operation in line with a strategic partnership in place between their nations.

The South Korean leader will meet a number of state officials and visit development projects during the trip, Wam said.

Discussions will centre on nuclear energy, climate change, health, the space sector, smart agriculture and culture.

“Choosing the UAE as the first foreign visit [of 2023] reflects President Yoon's determination to enhance the strategic partnership with the UAE in energy, investment, defence and nuclear energy,” said Kim Sung Han, South Korea's National Security Adviser, in comments carried by Wam.

The UAE and South Korea are working to strengthen ties. In December, Sheikh Mohamed met Kim Dae Ki, a special envoy of the South Korean President, at Qasr Al Bahr in Abu Dhabi.

Mr Kim delivered a written message from Mr Yoon, which spoke of the friendship between the nations, and the co-operation and opportunities to develop them further within the framework of the two countries' partnership.

During the meeting, both sides stressed the importance of expanding current co-operation and partnership between the UAE and South Korea, especially in economy, trade, investment, energy in its various traditional and renewable sectors, advanced technology and other fields that relate to economic diversification plans and building a knowledge-based economy that have been adopted by both countries.

  • President Sheikh Mohamed receives Kim Dae-Ki, Special Envoy of the President of South Korea, during a Sea Palace barza. All photos: Presidential Court
    President Sheikh Mohamed receives Kim Dae-Ki, Special Envoy of the President of South Korea, during a Sea Palace barza. All photos: Presidential Court
  • Mr Dae-ki delivered a written message from the South Korean President, Yoon Suk-yeol, which spoke of the long-standing ties between the nations
    Mr Dae-ki delivered a written message from the South Korean President, Yoon Suk-yeol, which spoke of the long-standing ties between the nations
  • The two sides stressed the importance of expanding the two nations' current co-operation and partnership
    The two sides stressed the importance of expanding the two nations' current co-operation and partnership
  • The meeting was attended by Sheikh Hamdan bin Zayed, the Ruler’s Representative in Al Dhafra Region
    The meeting was attended by Sheikh Hamdan bin Zayed, the Ruler’s Representative in Al Dhafra Region
  • Also in attendance were Sheikh Tahnoun bin Mohamed, Ruler's Representative in Al Ain Region, right, Khaldoon Al Mubarak, Abu Dhabi Executive Council member, chairman of the Executive Affairs Authority and group chief executive of Mubadala Investment Company, fourth right, and Sheikh Hamdan bin Zayed
    Also in attendance were Sheikh Tahnoun bin Mohamed, Ruler's Representative in Al Ain Region, right, Khaldoon Al Mubarak, Abu Dhabi Executive Council member, chairman of the Executive Affairs Authority and group chief executive of Mubadala Investment Company, fourth right, and Sheikh Hamdan bin Zayed

The UAE and South Korea forged diplomatic ties in 1980, with relations flourishing in the decades since.

South Korea played a leading role in the construction of the UAE's Barakah Nuclear Energy Plant, the first such facility of its kind in the Arab world.

The nations have also worked in partnership in the space sector, pooling their expertise to send satellites up.

“President Yoon Suk Yeol’s state visit from January 14 to 17 brings new expectations and hope,” Yoo Jeh Seung, South Korean ambassador to the UAE, told The National this week.

“Our two countries have, up to this point, been considered brotherly nations with a special strategic partnership, but now, given the significance of this visit, we see an opportunity to take off for a greater future.”

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Updated: January 15, 2023, 12:19 PM