On Monday, Saudi Arabia and South Korea reviewed the progress of the Free Trade Agreement negotiations between South Korea and the Gulf Cooperation Council (GCC) countries. They also discussed the impact of Saudi Arabia’s “Vision 2030” and the kingdom’s economic and developmental reforms on promising partnership opportunities between businesses on both sides.
This discussion took place during the visit of Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi to the South Korean capital, Seoul, which will continue until July 31. Dr. Al-Qasabi is accompanied by a Saudi delegation consisting of officials from 10 government agencies and 55 leaders from the business sector and major national companies. The visit aims to enhance trade relations across various priority economic sectors, elevate the level of economic partnership, and participate in the Saudi-Korean Business Forum, according to the Saudi Press Agency (SPA).
During his meeting with South Korean Prime Minister Dr. Han Duck-soo, Al-Qasabi highlighted that the visit seeks to strengthen commercial and economic partnerships with South Korea and falls within the efforts of the joint business committees between the two sides.
Al-Qasabi also held a meeting with the South Korean Minister of SMEs and Startups, Dr. Oh Young-ju, where they discussed South Korea’s experience in developing small and medium-sized enterprises, knowledge transfer in emerging technologies, and the exchange of qualitative expertise and talents. They also explored promising opportunities for Korean companies in ongoing projects in Saudi Arabia.
The Saudi Minister of Commerce met with the founder and president of Naver Corporation, Choi Soo-yeon. They discussed the company’s plans to enter the Saudi market and their cooperation to expand e-commerce in the kingdom, as well as establishing training programs for Saudi students.
