Saudi Gazette report

RIYADH — Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef held bilateral meetings with officials of a number of Korean companies operating in the industrial sector.

During his official visit to Korea, Alkhorayef also paid a visit to several factories in the cities of Ulsan and Changwon-si.

Alkhorayef met with the officials of HD Hyundai, and visited the company's factory in Ulsan, to see the most advanced shipbuilding, industrial and engineering facilities, as well as the latest engines and machinery.

He also discussed opportunities for cooperation in the field of marine industries, in view of Saudi Arabia’s abundance of minerals used in marine industries, as well as the copper foundry and smelting plant in the Al-Khobar Industrial City.

They also exchanged experiences between Hyundai and the King Salman Global Maritime Industries Complex.

Alkhorayef also met with officials of Hyundai Motors, a car manufacturing company, where he discussed with them the stages of implementing the joint project agreement between the Public Investment Fund and Hyundai to establish a highly automated car manufacturing plant in Saudi Arabia.

Furthermore, the Saudi minister met with officials of CTR, a manufacturer of auto spare parts, during a visit to the company’s headquarters in Changwon-si. He also met with officials of SHIN YOUNG, another company that manufactures auto spare parts and accessories.

The Saudi minister's meetings come within the framework of his official visit to Korea with the aim of strengthening cooperation and partnership in the industrial and mining sectors, as well as expanding the horizons of strategic cooperation between the two countries.