A Modern Silk Road Between Asia and the Middle East
By ANGELA SHAH and STANLEY REED
DUBAI — When Christy Lee, a South Korean investment banker, was dispatched to the Gulf four years ago to drum up business, her friends in Seoul had a hard time taking the assignment seriously. “They would say, Did you enjoy riding the camels?” she recalled.
Then the Gulf states’ oil earnings led to orders worth tens of billions of dollars for South Korean companies: The most noteworthy so far has been the deal for South Korea Electric Power Corp. to build four nuclear plants in Abu Dhabi, worth as much as $30 billion.
Now, when Ms. Lee talks about the Gulf, people listen. She has started her own firm, Daewon Advisory Services, with offices in Seoul and Abu Dhabi. In the past year she has brought 120 executives and leaders from the United Arab Emirates and other Gulf countries to South Korea, eager to figure out how it made its big economic strides. She expects these visits to bring in more deals.
Ms. Lee is one of a growing number of entrepreneurs and other people who have carved out roles as intermediaries between Asia and the Gulf, reviving in modern form — real estate projects, joint ventures, and investment deals — the centuries-old link between the Middle East and Asia known as the Silk Road.