Dubai’s DMCC (Dubai Multi Commodities Centre) has signed a strategic Memorandum of Understanding (MoU) with South Korea’s National IT Industry Promotion Agency (NIPA) to foster collaboration in artificial intelligence and ICT. The agreement, signed during the DMCC Made For Trade Live event in Seoul, aims to accelerate the international expansion of Korean startups by leveraging Dubai as a global hub.
A Strategic Bridge For Innovation
The partnership establishes a framework for DMCC and NIPA to advance innovation-led initiatives and support the next wave of Korean tech companies looking to scale globally. Under the MoU, DMCC will provide tailored support for eligible South Korean firms, including access to capital, market entry guidance, and seamless integration into its rapidly growing tech ecosystem. This collaboration is timed to capitalize on the upcoming UAE–Korea Comprehensive Economic Partnership Agreement (CEPA), which is expected to deepen trade and investment between the two nations. Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, stated that the partnership is “a pivotal step in unlocking new capital flows between the UAE and Korea” and accelerating technology transfer.
Tapping Into A Global Tech Hub
This agreement builds on a strong existing relationship, with DMCC already home to over 110 South Korean companies—a figure that has grown by more than 16 percent in the past year. By partnering with NIPA, DMCC aims to attract more high-growth startups from South Korea, which is recognized as one of the world’s most advanced digital economies. The partnership is mutually beneficial, allowing Korean enterprises to tap into high-growth markets across the Middle East, Africa, and South Asia via DMCC’s platform. Yun Kyu Park, President of NIPA, noted that the cooperation will “enhance our collective ability to compete and thrive on the global stage.”
About DMCC
The Dubai Multi Commodities Centre (DMCC) is one of the world’s most interconnected business districts and a major driver of foreign direct investment into Dubai. Accounting for 15 percent of the emirate’s annual FDI inflows, DMCC is home to nearly 26,000 member companies, including a fast-growing technology ecosystem of almost 3,400 firms. It provides the infrastructure, services, and regulatory framework needed for businesses to thrive and trade with confidence.
Source: Economy Middle East
