For the Dubai Multi Commodities Centre (DMCC), innovation and collaboration in artificial intelligence are nothing new. The company has thrived to become one of the leading free zones and business hubs, bringing technological expansion from its base in the heart of Dubai. This time, it has partnered with South Korea’s National IT Industry Promotion Agency (NIPA) to foster artificial intelligence and other technologies.
AI, ICT, and start-up expansion charge the deal
DMCC has signed an official agreement with NIPA in Seoul, following its announcement at a Made For Trade Live roadshow in the capital city of South Korea. Besides boosting AI, the joint venture aims to strengthen Information and Communication Technology (ICT) and advance the global expansion of Korean startups through Dubai.
DMCC AI Centre was launched in 2024, and since then, it has hosted nearly 63 companies, fueling AI adoption and enhancing AI use cases in the Middle East region.
Is DMCC broadening its wings to Asia?
Yes. An official statement reads that the tie-up with the Korean IT industry marks DMCC’s broader strategy to strengthen ties with “high-growth innovation hubs across Asia”. Additionally, South Korea is evolving as a game-changer in advanced technology and digital infrastructure, and DMCC views this transformation as a way to
- accelerate cross-border investment,
- startup expansion,
- and sector-specific integration.
Worth noting, the UAE-Korea Comprehensive Economic Partnership Agreement (CEPA), signed in May 2024, also played a role in regional integration and greater market access in different sectors.
DMCC is a haven for South Korean companies
DMCC is currently accommodating 110 South Korean companies, signifying a 16% year-on-year growth. This growth reflects one core idea: growing demand from Korean businesses seeking to expand into the Middle East via Dubai. DMCC’s fast-growing technology ecosystem is reportedly home to nearly 3,400 companies.
DMCC’s visit to Seoul is part of its global roadshow series, designed to showcase Dubai’s competitive advantage to key global markets.
The crypto ecosystem also leads
DMCC’s crypto ecosystem is one of the dynamic sectors with several companies registered under the firm. Its Crypto Centre accommodates more than 700 member companies operating under the jurisdiction. The Centre provides a comprehensive ambience for blockchain startups, established companies, and service providers to operate under a stable regulatory framework like the Virtual Assets Regulatory Authority (VARA).
