South Korean leader to arrive



ABU DHABI // South Korea's President Lee Myung-bak is to arrive in the capital today for talks with Sheikh Khalifa bin Zayed, the President of the UAE and Ruler of Abu Dhabi.

Mr Lee is on a three-day visit to the Emirates, his second since 2009. The visit comes at a high point in relations between the two countries.

Elite South Korean troops arrived in the UAE in January to train Emirati special forces.

And Kepco, a South Korean consortium, is building the UAE's nuclear power plants in the once tiny seaside village of Braka, with the first plant expected to become operational by 2017. If the US$20 billion (Dh73.5bn) project proceeds according to its timetable, it will become the Arab world's first civilian nuclear programme.

"The South Korean government is very much interested in making this nuclear deal a success as a symbolic case for supplying its nuclear technology and reactors to other countries," said Dr Hak-soon Paik, a senior fellow at the Sejong Institute, a South Korean think-tank.

South Korea beat competition from American and French companies to clinch the contract.

Mr Lee will attend the ceremony for the first nuclear plant at Braka. He will also meet Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. On the last day of his visit, he will meet Sheikh Mohammed bin Rashid, Vice President and prime minister of the UAE, in Dubai.

Co-operation with South Korea heralds stronger ties with South East Asia as a whole, diplomats said. "South-east Asian countries are closely connected and economically linked to China and India," one Asian diplomat in the UAE said. "The UAE can leverage on South East Asia's connection to gain access to these two giants."

The diplomat said the UAE offers the region a politically stable gateway with mature infrastructure for expansion in the Middle East, one that Asian companies are eager to exploit. In 2009, the two countries upgraded their relationship to a "strategic partnership", further deepening ties.

"It can't be better," Kwon Tae-kyun, South Korea's ambassador to the UAE, told the state news agency WAM early this year regarding the relationship between the two countries.

The UAE joined other nations in condemning an artillery attack by North Korea on the South's islands, signalling a closer political alignment.

In the first 11 months of 2010, trade volume between the two countries reached $15.7bn. The UAE is South Korea's largest export market in the region. South Korea imports more oil from the UAE than any other country except Saudi Arabia.

There are currently 5,500 Koreans in the UAE. Bilateral co-operation extends to education, scientific research, tourism, training, urban planning and clean energy, said one Asian diplomat.

Mr Lee will receive the Zayed Prize for the Environment during his trip.

"This [visit] is very important in showing Korea's willingness to strengthen the bilateral relationship," said Dr Jeong-min Seo, a professor of Middle East politics at Hankuk University in Seoul. "Korea wants to develop the relationship in many areas."

Daniel Bardsley reported from Beijing.

dbardsley@thenational.ae

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

MATCH INFO

Manchester City 0

Wolves 2 (Traore 80', 90 4')

THREE
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UAE currency: the story behind the money in your pockets
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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
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3 out of 5 stars

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