Saudi Gazette report

SEOUL — Minister of Commerce Dr. Majid Al-Qasabi arrived in Seoul, accompanied by a Saudi delegation that included officials from 10 government agencies and 55 leaders from the business sector including the largest national companies in the Kingdom.

The visit, which will continue until 31 July, aims to enhance trade relations in various economic sectors, raise the level of economic partnership, and participate in the Saudi-Korean Business Forum.

During his meeting with Korean Prime Minister Dr. Han Duck-soo, Al-Qasabi pointed out that the visit comes in light of the Saudi leadership's directives to enhance trade and economic partnership with Korea, in addition to being part of the efforts of the joint business committees between the two sides.

The meeting, which was attended by Saudi Ambassador to Korea Sami Al-Sadhan and Minister of Trade, Industry and Energy Dr. Ahn Deok-kyun, reviewed the progress made in the free trade agreement negotiations between Korea and Gulf Cooperation Council (GCC) countries.

In addition, it discussed the impact of Saudi Arabia's Vision 2030 and the economic and development reforms in Saudi Arabia on promising opportunities for partnership between the business sectors on both sides.

Al-Qasabi also held a meeting with the Minister of SMEs and Startups, Dr. Oh Young-joo. They discussed Korea’s experience in developing companies and transferring knowledge in the fields of emerging technologies.

He also met with Choi Soo-yeon, founder and CEO of Naver — the largest internet company in Korea — and discussed the company’s plans to enter the Saudi market, and cooperation to expand e-commerce in the Kingdom. They also discussed establishing training programs for Saudi students.

The participants in the delegation are the ministries of Commerce, Investment, Industry and Mineral Resources, and Transport and Logistics (Monsha’at), Saudi Data and Artificial Intelligence Authority (SDAIA), Saudi Export Development Authority, National Competitiveness Center, Saudi Business Center, National Center for Palms and Dates, and the Federation of Saudi Chambers of Commerce, as well as representatives of 55 national companies.