South Korean business leaders, including Samsung Electronics Co. Chairman Lee Jae-yong, will meet with the President of the United Arab Emirates in Seoul to explore cooperation in various economic and technological sectors, industry sources said Monday.

According to the sources, Lee, along with Euisun Chung of Hyundai Motor Group and Chey Tae-won of SK Group, will have tea with UAE President Mohammed bin Zayed Al Nahyan somewhere in Seoul on Tuesday.

Other business leaders, including Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai Vice Chairman Chung Ki-sun and GS Group Chairman Huh Tae-soo, will also attend the meeting.

During the meeting, the business leaders are expected to discuss ways to promote business cooperation between South Korea and the UAE in sectors such as advanced technology, defense and energy.

This meeting is part of Mohammed's two-day trip to Seoul, a return visit for Yoon's UAE visit last year. It is the first state visit to South Korea by a UAE president.

At last year's meeting in the UAE, the two presidents agreed to expand cooperation in the nuclear power, arms and energy sectors, among others. (Yonhap)