Saudi Crown Prince Mohammed bin Salman arrives in Seoul for summit talks

[The SC]

Crown Prince Mohammed bin Salman's shakes hands with South Korean President Moon Jae-In Crown Prince Mohammed bin Salman's shakes hands with South Korean President Moon Jae-In POOL/AFP


SEOUL: Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Seoul Wednesday for talks with South Korean President Moon Jae-in to strengthen bilateral ties between the two governments.

The crown prince, who also serves as deputy prime minister and minister of defense of the Kingdom, was received by South Korean Prime Minister Lee Nak-yeon and Saudi Ambassador to Seoul Riyadh Al-Mubaraki. The Saudi leader and Moon inspected an honor guard at the presidential Blue House in central Seoul before delegations from both countries conducted the summit.

During the summit talks, President Moon expressed hope the bilateral relationship would take a leap forward on the occasion of the crown prince’s visit to South Korea, the first by an heir to the throne of the world’s largest oil exporter since 1998.

“Saudi Arabia is the largest oil supplier for us, and it’s the biggest customer for South Korean construction firms. It is also our No. 1 trade partner in the Middle East,” Moon said, referring to Saudi’s Vision 2030 project as a key area of mutual cooperation.

“As a partner of the Vision 2030 project, South Korea will expand cooperation with Saudi Arabia to the areas of information and communications technology, smart infrastructure, defense, health and medicine and others beyond the traditional cooperation on energy and construction,” Moon said.

Meanwhile, the Crown Prince pledged that Saudi Arabia would invest more in South Korea was looking to expand economic cooperation in energy, automotive, tourism and health.

“South Korea has made tremendous success in Saudi Arabia. I hope South Korea will do the same to further improve bilateral relationships,” the Crown Prince was quoted by a Blue House official as saying. “People of both countries will thrive more through cooperation on defense and economy.”

After the summit, the Crown Prince had a luncheon with South Korea’s top business leaders including Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Vice Chairman Chung Eui-sun and SK Group Chairman Chey Tae-won.

The kingdom’s investment authority also held a convention to sign 15 cooperation agreements, with an estimated value of $8.3 billion, with their South Korean counterparts in different fields covering finance, petrochemicals and renewable energy, according to the Korea Trade-Investment Promotion Agency.

Seoul’s Ministry of Trade, Industry and Energy, meanwhile, said it has agreed with its Saudi Arabian counterpart to join hands in the automobile segment for the development of environment-friendly cars.

“Both governments will cooperate in developing technologies to utilize hydrogen as an alternative to traditional fossil fuels as well, the ministry said in a statement.

After South Korea, the crown prince is scheduled to travel to Japan to head the Saudi Arabian delegation at the G20 Summit in Osaka on June 28-29.

http://www.arabnews.com/node/1516076/saudi-arabia

 

[The SC]

The export of South Korea’s APR-1400 nuclear reactor technology to Saudi Arabia is high on the agenda.

Team Korea, led by the Korea Electric Power Corp., was shortlisted last year for a nuclear power plant construction project in Saudi Arabia, along with the US, China, France and Russia. The project by the King Abdullah City for Atomic and Renewable Energy is aimed at building two nuclear power plants by 2030.

With Riyadh reportedly leaning toward the US bidder, Team Korea is considering forming a strategic consortium with the US side, according to government sources.

“The possibility of the Korea-US consortium for the Saudi project is a feasible option,” said Huh Min-ho, a researcher of Shinhan Invest Corp., referring to the US Nuclear Regulatory Commission’s approval of the technical design of South Korea’s APR-1400 reactors.

“For South Korea, joining hands with the US is a feasible option to win the Saudi nuclear reactor contract, though the total order amount would be reduced,” the analyst said. “Once the Saudi project is won, more orders are expected to come from other countries such as the UK, the Czech Republic and Poland.”

South Korea already has a nuclear power footprint in in the Middle East after its construction of the Barakah nuclear power plant in the UAE. The country recently won a five-year maintenance deal for the nuclear plant with Nawah Energy Co., the operator of the plant.

The Saudi crown prince is also interested in South Korea’s weapons development technology, according to defense sources, and is scheduled to visit the Agency for Defense Development, South Korea’s only weapons developing agency, during his stay.

“We heard the crown prince is interested in the transfer of weapons technology when his country imports foreign weapons systems,” a Defense Ministry official told Arab News.

The Saudi leader is also expected to attend a ceremony celebrating the completion of Saudi-owned S-Oil’s residue upgrading facility. S-Oil, which is wholly owned by state-run Saudi Aramco, is third-largest oil refiner in South Korea.


http://www.arabnews.com/node/1516231/saudi-arabia

 

[The SC]

Crown Prince from South Korea: Saudi Arabia Aspires to Become Global Investment Pioneer

Wednesday, 26 June, 2019 - 05:00

Saudi Crown Prince Mohammed bin Salman is received at the Blue House by South Korean President Moon Jae-in. (SPA)

Asharq Al-Awsat

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, underlined on Wednesday the historic ties that bind the Kingdom with South Korea, highlighting its Vision 2030 reform program.

Speaking from Seoul during a meeting with South Korean President Moon Jae-in, he said: “Through this vision, the Kingdom is aspiring to become an investment pioneer and a link between the world’s continents.”

The Vision is based on a prosperous economy, vital society and ambitious nation, he went on to say during the meeting at the presidential Blue House.

He hailed Moon’s efforts in combating corruption, saying that this too was a priority adopted by the Kingdom under the leadership of Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

“We are aware of untapped massive potential and partnership between our countries and the opportunities to increase the trade and investment exchange,” Crown Prince Mohammed said.

Saudi Arabia is a central country in the Middle East and it is keen on developing and bolstering economic and investment cooperation with South Korea, he added, while highlighting the already existing strategic partnership in the political, security, defense, economic, cultural and social fields.

He also spoke of developing defense capabilities and achieving economic prosperity through the joint building of industries and developing human capital.

“Saudi Arabia has had a very wonderful experience with South Korea in the past and would like to repeat it on a larger scale for the interest of our countries,” he remarked.

For his part, Moon underscored the importance of the Crown Prince’s visit in developing cooperation between Riyadh and Seoul in various fields.

He hailed in this regard Vision 2030 and its ambitious objectives.

Crown Prince Mohammed and his host also discussed regional and international developments.

The Saudi royal had arrived in South Korea earlier on Wednesday. He was received at the airport by Prime Minister Lee Nak-yeon and Saudi Ambassador to Seoul Riyadh Al-Mubaraki.

He heads a delegation that includes Foreign Minister Ibrahim al-Assaf, Minister of Trade and Commerce Dr. Majed al-Qasabi, State Minister for Foreign Affairs Adel al-Jubeir, Minister of Energy Khalid al-Falih and Information Minister Turki al-Shabanah.

After South Korea, the Crown Prince is scheduled to travel to Japan to head the Kingdom’s delegation at the G20 summit in Osaka.

South Korean Ambassador to Saudi Arabia Jo Byung-wook said Seoul was one of Riyadh’s strategic partners in the execution of Saudi Vision 2030.

Crown Prince Mohammed’s visit will bolster the fundamental cooperation between the two countries in several fields, he told Asharq Al-Awsat.

Seoul and Riyadh have maintained close ties and they have been developed for over half a century. South Korea has played a central role in developing the Kingdom’s infrastructure. Saudi Arabia, meanwhile, has been a main energy provider for the Korean economy, supplying it with 30 percent of its oil imports, making it the country’s greatest energy provider, stated Jo.

Cooperation between Saudi Arabia and South Korea in the Vision 2030 programs will pave the way for establishing more bonds of friendship between the two countries, he continued.

Crown Prince Mohammed’s visit to South Korea is the first by a Saudi royal since late King Abdullah bin Abdulaziz traveled to the country in 1998 when he was still crown prince.


https://aawsat.com/english/home/art...abia-aspires-become-global-investment-pioneer

 

[Wilhelm II]

I like Koreans they are so smart but Japanese are better
Waiting for more technology news

 

[The SC]

President of the Republic of Korea and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister and Minister of Defense, today witnessed the signing of memorandums of understanding, cooperation and program between the Governments of Saudi Arabia and the Republic of Korea.

Cooperation agreements have been signed in the fields of communications and information technology, e-government, culture, automobiles, hydrogen economy, health insurance, supervision of financial institutions, military acquisition, industries, research and military technology, Strategy with the Korean Development Institute.

The signing ceremony was attended by members of the official delegation, the facilities of His Highness the Crown Prince and senior government officials of the Republic of Korea.

 

[ArabianEmpires&Caliphates]

South Korea has proven to be a historically close and trusted partner. There was a point in time where almost 1 million South Koreans lived and worked in KSA. Ties are very old and date back to the Abbasid Caliphate. Even in pre-Islamic times there were trade ties with the Korean Peninsula.

https://en.wikipedia.org/wiki/Islam_in_Korea

https://en.wikipedia.org/wiki/Koreans_in_the_Arab_world

Also not long ago the National Museum of Seoul hosted the impressive "Roads of Arabia" archaeological exhibition that toured China, Japan etc. as well and before that much of the world. It was a big success.

They will be and are an important partner for Saudi Vision 2030 as well as our military industry.

In short a must welcome visit and cooperation.

I like Koreans they are so smart but Japanese are better
Waiting for more technology news

Individuals are smart rather than entire countries. South Korea is a highly developed country technologically and have little to envy Japan. Both are countries that the world can learn from on many fronts.

 

[ArabianEmpires&Caliphates]

Saudi Crown Prince inaugurates a $4.2 bln S-Oil expansion in South Korea

Saudi Crown Prince Mohammed bin Salman inaugurates a $4.2 billion expansion of the S-Oil refinery in South Korea on Wednesday. (SPA)
Crown Prince Mohammed bin Salman's official visit to the country, Nasser added that there is global concern over the passage of supplies through the Strait of Hormuz.

"We have the ability to export through the Arabian Gulf and the Red Sea," he added.

For his part, Eng. Amin al-Nasser, President and CEO of Saudi Aramco, delivered a speech in which he said that S-Oil plays a pivotal role in providing energy supplies necessary for economic growth in Korea.


“When our company pumped its first investments in S-Oil in 1991, the refining capacity of S-Oil stood at 90bpd only. Last year, it reached 669bpd and meanwhile, the revenues increased to 31 folds. So, it is not surprising that we cite S-Oil as an example of our successful investments and other partnerships in the sector of refining,” al-Nasser said.

Last Update: Wednesday, 26 June 2019 KSA 22:00 - GMT 19:00

https://english.alarabiya.net/en/bu...on-S-Oil-expansion-in-South-Korea-Aramco.html

Saudi Crown Prince meets top South Korean business leaders during visit to Seoul

At the meeting with SK Group, Crown Prince Mohammed bin Salman talked about the prospects for cooperation and investment in the field of petrochemicals, the environment, clean energy, and battery technology. (SPA)

Saudi Arabia’s Crown Prince Mohammed bin Salman has met with the heads of South Korean companies Hyundai and SK Group during his state visit to Seoul.

The Saudi Crown Prince met with Hyundai Group Vice President Chung Eui-sun, Hyundai Heavy Industries President Ka Sam-Hyun and Chairman of SK Group Chey Tae-won during the sideline meetings.

During the meeting, they heads of the Hyundai companies discussed opportunities for mutual investments, especially regarding opportunities at King Salman International Complex for Maritime Industries & Services.

At the meeting with SK Group, Crown Prince Mohammed bin Salman talked about the prospects for cooperation and investment in the field of petrochemicals, the environment, clean energy, and battery technology.

On Wednesday, the Saudi Arabian General Investment Authority (SAGIA) announced the signing of 15 memoranda of understanding (MOUs) and agreements with Korean investors. Two new licenses were also awarded to Korean businesses, permitting them to establish operations in the Kingdom.

https://english.alarabiya.net/en/bu...n-business-leaders-during-visit-to-Seoul.html