Riyadh, Saudi Arabia–Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the latest move to boost cooperation between the two countries.
The memorandums of understanding call for cooperation in the future of mobility and innovation in the transport and logistic services sectors as well as in the field of roads.
The two agreements came about in a meeting between Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser and his South Korean counterpart, Minister of Land, Infrastructure and Transport Won Hee-ryong at the second South Korea-Saudi Arabia Mobility and Innovation Road Show in Seoul.
The first MoU on the future of mobility and innovation in the field of transport and logistics services aims to support and adopt the latest mobility technologies using clean energy and explore areas of expertise for cooperation in the innovation, research, and development fields.
Additionally, the mobility MoU seeks to harmonize policies and legislations for connected and autonomous vehicles as well as to benefit from experiences in the field of aviation and airport infrastructure.
As per the MoU, the two sides will also exchange and endorse experiences to solve challenges facing the adoption of modern technologies in the transportation and logistics services sector.
Meanwhile, the roads MoU aims to exchange expertise with regard to road construction, asset management, operation, maintenance, and road safety and to develop the Saudi road research center.
“In the road show, Korean companies will promote their advanced and innovative technologies when it comes to infrastructure construction, mobility solutions, smart cities and smart ports,” Won said.
On Monday, Korea’s Finance Minister Choo Kyung-ho held talks with his Saudi counterpart, Mohammed Al-jadaan, in Seoul and asked Riyadh to help Korean companies participate in Saudi Arabia’s Neom smart city project.
South Korean builders and engineering companies achieved an accumulated $156.5 billion worth of construction projects in the Middle Eastern country as of March this year.