One is the world’s seventh greatest producer of oil. The other is a pioneer of nuclear energy and technology. And this week the UAE and South Korea will come together for a landmark summit to discuss the ways the two countries can collaborate.
South Korean President Moon Jae-in arrived in the Emirates on Saturday for a four-day visit where he is expected to explore opportunities between the two countries in the realms of energy, healthcare, science, space and technology.
"Peace and stability of the Middle East, a strategic hub of natural resources like petroleum, gas as well as global free transportation between continents, is very important not only to Korea but also to the international society as a whole," said Jin-wook Hong, director-general of the African and Middle Eastern Affairs Bureau at the Ministry of Foreign Affairs in Seoul. "We pay attention to the leading role of the UAE in strengthening the stabilisation efforts in the region, especially in the field of economic reforms or liberalisation and the various political and security efforts including those in overcoming violent extremism."
Speaking to The National, Mr Hong said both countries were preparing themselves for the forthcoming global challenges, such as climate change, the Fourth Industrial Revolution and the fluctuation of crude oil prices.
“Korea is a country without any meaningful natural resources,” he said. “And for Korea’s industrial development, what is most indispensable is energy, from petroleum to natural gas. The UAE is one of the most important suppliers of such kind of energy.”
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Read more:
UAE and South Korea agree to visa-free travel
Nuclear power key focus of UAE-South Korea ties, ambassador says
Training the UAE’s nuclear pioneers at the Barakah plant
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Korea has long put an emphasis on educating its population.
“That’s why we were able to look for a chance to help our friends in the Middle East build their infrastructure, like nuclear power plants, bridges, roads and send more than hundreds of thousands of Koreans to the region who worked diligently on construction sites.”
There are plans to send more Koreans to work in the medical sector at Sheikh Khalifa Speciality Hospital in Ras Al Khaimah, where 70 doctors and 130 nurses from Korea already work.
“In the past, most Koreans who worked in the UAE were construction workers but now, they’re more skilled labourers like doctors, nurses and several hundreds of air crew,” Mr Hong said. “A UAE-Korea joint committee was also held this month to discuss ways to expand and diversify the cooperation and a joint research institute is being discussed to open at Khalifa University in science and space.”
Economics, culture, energy and technology are areas both countries are expected to focus on during the president’s visit.
“This coming visit will consolidate and strengthen ties between both countries, not just in nuclear but other future sources of energy,” said Yong Ik Kwon, director of foreign media relations at the Korean Culture and Information Service. “We have a lot to learn from the UAE because, even though it is the seventh largest oil producer in the world, 30 per cent of its GDP comes from oil and other sectors like aviation and finance. So that’s the way we can learn from the UAE, by diversifying the economy and not just relying on oil, and planning for the future.”
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Read more:
Ties between UAE and South Korea stretch back almost 40 years
Korea and UAE will be century-long partners, says ambassador
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Analysts said that, although the UAE is crucial for South Korea’s future energy security with its oil, the relationship has progressively become multifaceted with both countries looking towards each other as vital to their future progress.
“The two countries became strategic partners in 2009 when South Korea won a $20 billion contract to build four nuclear reactors in the UAE, including the world’s largest single nuclear project in Abu Dhabi’s Barakah Nuclear Power Plant,” said Sabahat Khan, senior analyst at the Institute for Near East and Gulf Military Analysis.
"South Korea also maintains a special forces unit in the UAE, which shows how important the Emirates has become to its own national interests. Economics underpin UAE-South Korea ties as trade continues to grow – in automotives and electronics, especially, where South Korea has become a world leader, but also in areas such as infrastructure, education, health and beauty, and agriculture."
In terms of learning from each other, he said South Korea has made massive strides with technology and innovation in manufacturing – in electronics, space, nuclear energy, higher education and defence, all of which are a massive focus for the UAE as it continues to develop robust non-oil sectors in the economy and realise its future vision.
“South Korea’s deep relations with the UAE are unprecedented for Seoul in the region, possibly the world, and the UAE rates South Korea very highly as a trade partner and strategic ally,” Mr Khan said.
"We can expect to see lots of positive and important outcomes from the important visit of the president in relation to promoting trade and investment, but also deepening collaboration in defence, higher education and infrastructure development."
Politically, both countries are aligned on the same global issues regarding maritime security, counter-terrorism and the non-proliferation of weapons of mass destruction. "They face rogue states, Iran and North Korea, which are cooperating on long-range missiles," said Dr Albadr Al Shateri, politics professor at the National Defence College. "This will draw the UAE and South Korea together in facing a common threat. "
Healthcare will prove vital too as Korea plans to expand its medical horizons. “Not just in traditional fields of medicine but to include anti-ageing and to make people live a healthier life,” Mr Kwon said. “We’re moving into the ageing society so people are focusing more on these issues and we’re very competitive in this field.”
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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More on animal trafficking
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
OTHER IPL BOWLING RECORDS
Best bowling figures: 6-14 – Sohail Tanvir (for Rajasthan Royals against Chennai Super Kings in 2008)
Best average: 16.36 – Andrew Tye
Best economy rate: 6.53 – Sunil Narine
Best strike-rate: 12.83 – Andrew Tye
Best strike-rate in an innings: 1.50 – Suresh Raina (for Chennai Super Kings against Rajasthan Royals in 2011)
Most runs conceded in an innings: 70 – Basil Thampi (for Sunrisers Hyderabad against Royal Challengers Bangalore in 2018)
Most hat-tricks: 3 – Amit Mishra
Most dot-balls: 1,128 – Harbhajan Singh
Most maiden overs bowled: 14 – Praveen Kumar
Most four-wicket hauls: 6 – Sunil Narine
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Movie: Saheb, Biwi aur Gangster 3
Producer: JAR Films
Director: Tigmanshu Dhulia
Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi
Rating: 3 star
match details
Wales v Hungary
Cardiff City Stadium, kick-off 11.45pm
The specs: 2019 Mini Cooper
Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
RoboCop%3A%20Rogue%20City
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 720hp
Torque: 770Nm
Price: Dh1,100,000
On sale: now
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
Top tips to avoid cyber fraud
Microsoft’s ‘hacker-in-chief’ David Weston, creator of the tech company’s Windows Red Team, advises simple steps to help people avoid falling victim to cyber fraud:
1. Always get the latest operating system on your smartphone or desktop, as it will have the latest innovations. An outdated OS can erode away all investments made in securing your device or system.
2. After installing the latest OS version, keep it patched; this means repairing system vulnerabilities which are discovered after the infrastructure components are released in the market. The vast majority of attacks are based on out of date components – there are missing patches.
3. Multi-factor authentication is required. Move away from passwords as fast as possible, particularly for anything financial. Cybercriminals are targeting money through compromising the users’ identity – his username and password. So, get on the next level of security using fingertips or facial recognition.
4. Move your personal as well as professional data to the cloud, which has advanced threat detection mechanisms and analytics to spot any attempt. Even if you are hit by some ransomware, the chances of restoring the stolen data are higher because everything is backed up.
5. Make the right hardware selection and always refresh it. We are in a time where a number of security improvement processes are reliant on new processors and chip sets that come with embedded security features. Buy a new personal computer with a trusted computing module that has fingerprint or biometric cameras as additional measures of protection.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Medicus AI
Started: 2016
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
Mohammed bin Zayed Majlis
Company%20profile
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RESULT
Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')
Man of the match: Christopher Schindler (Huddersfield Town)
Honeymoonish
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JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5