He further revealed hope that the UAE's generous investment can facilitate a "second Middle East boom" for Korean companies. Yoon made the remarks during a public-private sector meeting on follow-up measures for the UAE's investment proposal, Tuesday. "The biggest achievement of the trip was the $30 billion investment proposal which was agreed upon in the summit and stated in the joint statement," Yoon said. The president said both "public and private sectors need to collect their wisdom to bring the second Middle East boom." The Middle East boom refers to an economic boost that Korea enjoyed in the 1970s and 80s as companies, mostly building developers, won extensive construction orders from Middle Eastern countries.

Source: The Times January 31, 2023 19:16 UTC