The UAE and South Korea will expand economic cooperation in a number of sectors, including nuclear power, defence, hydrogen and solar energy industries, among others.
It comes as South Korea's President Yoon Suk-yeol held talks with UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi, during a four-day state visit.
During the summit, the two countries also signed 13 memorandums of understanding, including an agreement between the state-run Korea Development Bank and the Abu Dhabi state fund Mubadala to cooperate for investment in South Korean companies.
Both sides also amended a space deal that was signed between the two countries in 2017.
Decision to collaborate in fields like transport, crude oil storage, cargo and carbon neutrality were also sealed.