South Korea’s Finance Minister, Choo Kyung-mo, has stated that his country aims to strengthen connections with Saudi Arabia and have its companies participate in the Kingdom’s planned giga-projects.
During talks with his Saudi counterpart, Mohammed Al-jadaan, in Seoul, the South Korean minister stated that the two countries could find potential opportunities for collaboration in Saudi Arabia’s Vision 2030 blueprint, which focuses on diversifying the Kingdom’s economy and reducing its reliance on the petrochemical industry.
The South Korean minister stated that the two countries could find potential opportunities for collaboration in Saudi Arabia’s Vision 2030 blueprint
The two ministers met for the first time since the Group of 20 meeting in Washington DC in October and discussed a wide range of issues, including the global economy’s growing challenges, such as looming fragmentation and other geopolitical risks.
Choo Kyung-mo also noted that South Korea is working to improve its competitiveness in fields such as hydrogen and smart farming. Additionally, he requested that Riyadh pay careful attention to South Korean enterprises’ attempts to join in the NEOM project, which aspires to develop a sustainable city powered by renewable energy with a $500 billion budget.
In response, Al-jadaan emphasized South Korean enterprises’ superior technology and production skills and expressed his hope that they would be able to participate in Saudi Arabia’s numerous initiatives.
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