Dubai trade with South Korea grew eight per cent from Dh25.3 billion ($6.8 billion) in 2016 to Dh27.4 billion ($7.4 billion) in 2017, a report said, adding that the trade stood at Dh8.7 billion ($2.37 billion) during the first six months of 2018.

The figures have been revealed during a meeting between Ahmed Mahboob Musabih, director of Dubai Customs, and a South Korean delegation led by the Consul-General in Dubai, Chun Young Wook, in the presence of representatives of a number of S Korean businesses operating in the country, reported Emirates news agency Wam.

The meeting occasioned a review of the incentives provided by the Federal Government to stimulate the business sector and domestic economy in general that will ultimately reflect positively on the businesses in the country.

Musabih underlined his determination to keep S Korean investors updated on the latest business services provided by Dubai Customs.

For his part, the Korean Consul-General reaffirmed confidence in the investment-conducive environment of Dubai, calling on Korean businesses to invest in the country.