[韓-사우디 경제협력]
Ceremony commemorating the 50th anniversary of Korea-Saudi construction cooperation
3 trillion gas plant-virtual city construction contract
Jaeyong Lee “There are endless areas of cooperation, including NEOM”
President Yoon Seok-yeol, who is on a state visit to Saudi Arabia, said on the 23rd (local time) about Neom City, a new city development project being promoted by Saudi Arabia, “If we combine Korea’s cutting-edge city construction capabilities, the two countries will be able to present a new model for future cities.” “It is,” he said. In accordance with the two countries’ will to develop energy-centered cooperation into a diverse cooperation system, on this day, in addition to the ‘Gas Plant Package 2’ business contract worth approximately 2.4 billion dollars (approximately 3.25 trillion won), a ‘digital platform for urban management’ was established. Cooperation between tradition and cutting-edge was achieved.
President Yoon attended the ‘Korea-Saudi Arabia 50th Anniversary Construction Cooperation Ceremony’ held at the Neom Exhibition Hall in Riyadh on this day and said, “Based on the solid foundation established by Korea and Saudi Arabia, we must jointly open a new future of infrastructure economic cooperation that meets technological changes and the needs of the times.” He said. President Yoon viewed the exhibition introducing The Line project in the NEOM exhibition hall under the guidance of Nadmi Al Nasr, CEO of NEOM Company. Samsung Electronics Chairman Lee Jae-yong also said in a preliminary meeting between the two countries on the 22nd, “Saudi Arabia is a very important market for Samsung,” adding, “We are not only engaged in the mobile phone business, but also Saudi Arabia’s first metro construction project and the Neom project, so the areas of cooperation are endless. “We will also strive to realize ‘Saudi Vision 2030,’” he said, emphasizing the need for cooperation.
At the event, a contract was signed for the ‘Jafura2’ gas plant construction project, in which Hyundai Engineering and Hyundai Engineering & Construction will build a plant to purify natural gas in the Jafura area, the largest shale gas deposit in the Middle East owned by Aramco. This is a result of the trust between the leaders of the two countries that has continued since Crown Prince Mohammed bin Salman’s visit to Korea in November last year, and follows the winning of the Amiral Project (approximately 5 billion dollars) order in June.
In addition, Naver and the Saudi Ministry of Urban, Rural and Housing signed a business contract to build a platform that will be used for urban planning and management, flood prediction, etc. by building a virtual digital twin identical to the real space in five Saudi cities. It was named the first export project of the Yoon Seok-yeol government’s ‘Digital Platform Government’. The subtitle of the ceremony, ‘From AlUla-Khaibar to Neom’, commemorates the passage of 50 years since 1973, when Samwhan Corporation became the first Korean company to win a contract for the AlUla-Khaibar highway project (approximately 20 million dollars) in Saudi Arabia. is included.
President Yoon also gave a speech to about 2,000 students at King Saud University. President Yoon is the first foreign leader to speak here. In response to a question about cooperation in the automobile industry, President Yoon mentioned the semi-finished product (CKD) automobile plant being built by Hyundai Motor Group and the Saudi Sovereign Wealth Fund (PIF) and said, “The decision by Hyundai Motor Company and Saudi Arabia to build an electric vehicle plant together is because Korea -It is a symbol of new changes in Saudi economic cooperation. “Now, Korea and Saudi Arabia have moved into an era of joint development and production rather than exchanging finished products with each other,” he said. Hyundai Motor Company Chairman Chung Eui-sun also said in a preliminary meeting the previous day, “I am thrilled that Hyundai Motor Company has entered the Saudi electric vehicle business 50 years after Chairman Seon-dae participated in the Saudi construction project.” He added, “Saudi Arabia is not simply a market for product sales, but is the mecca of the automobile industry in the Middle East.” “I will work hard to make it happen,” he emphasized.
President Yoon also attended the ‘Korea-Saudi Future Technology Partnership Forum’ held at the Royal Saudi Institute of Science and Technology and said, “Korea, which has world-class technology in four major fields (digital, clean energy, biohealth, and space), is in solidarity with Saudi Arabia.” “If we do this, sustainable growth is possible,” he emphasized.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.