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South Korea,Abu Dhabi Sovereign Wealth Funds Ink Advisory Deal

SEOUL -(Dow Jones)- South Korea's sovereign wealth fund, Korea Investment Corp., has signed a cooperation agreement with the Abu Dhabi Investment Authority, the finance ministry said Friday.

The two sovereign wealth funds will provide each other with advisory services and other assistance when they seek overseas investments, the Ministry of Strategy and Finance said in a statement.

The agreement follows non-deal road shows in Dubai and Abu Dhabi early this week by a South Korean delegation led by a vice finance minister.

Korean officials updated top executives from the region on the East Asian economy, investments in infrastructure projects and regulatory changes on the issuance of Islamic bonds in Korea, it said.

The Korean government is aiming to attract capital from Islamic markets to diversify overseas debt sources and spread risk.

-By In-Soo Nam, Dow Jones Newswires; 822-2198-2234; In-Soo.Nam@dowjones.com

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  11-05-092037ET
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