RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here.
The MoUs were signed by both government and private entities. Government agencies signed four MoUs with the private sector in areas such as real estate development, automotive, and water.
President of South Korea Yoon Suk Yeol was present on the occasion.
The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, renewable energy, technology, infrastructure and cybersecurity.
These agreements aim to strengthen investments between the Kingdom and South Korea, reflecting the ongoing efforts towards integration and collaboration between the two nations.
The Saudi-Korean Investment Forum featured a short film on Sunday presenting the ties between the two countries, along with presentations on Invest Saudi that emphasized investment opportunities in the Kingdom, economic cities, special zones, industries and maritime services.
The discussions also delved into the prospects of a sustainable future in the context of Saudi-Korean cooperation.
Representatives from both sides engaged in a series of discussion covering issues related to future cities and industries and various areas of mutual interest.
Delegates from major companies and the private sector on both ends explored avenues for collaboration, partnerships, and investment opportunities.
The Saudi-Korean Investment Forum is accompanied by an exhibition that aims to showcase investment opportunities across various sectors, services and incentives available to investors.
It involves the participation of several government agencies, including the Ministry of Investment, the Saudi Authority for Data and Artificial Intelligence (SDAIA), the Royal Commission for Riyadh City (RCRC), the Economic Cities and Special Zones Authority (ECZA), the National Transformation Program, Saudi Vision 2030, and the National Housing Company (NHC).
Attending the forum from the Saudi side were the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih; Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef; Governor of the Public Investment Fund (PIF), Yasir bin Othman Al-Rumayyan; and several other officials.
The attendees from the South Korean side were Foreign Minister Park Jin; Minister of Trade, Industry and Energy Bang Moon-kyu; Minister of Land, Infrastructure and Transport Won Hee-ryong.