South Korean president hails new step in high-tech collaborations with Saudi Arabia

South Korea’s President Yoon Suk-yeol attends the South Korea-Saudi Arabia Future Technology Partnership forum in Riyadh.
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Updated 23 October 2023
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South Korean president hails new step in high-tech collaborations with Saudi Arabia

  • Yoon attended Saudi-Korean Future Technology Partnership forum in Riyadh

LONDON: The South Korea-Saudi Arabia Future Technology Partnership forum, which took place on Monday at King Abdulaziz City for Science and Technology in Riyadh, represents a new step in collaboration on digitization, clean energy, biotechnology and space, according to South Korea’s president, Yoon Suk-yeol.

Speaking at the event, he praised the advances made by the Kingdom in the field of smart transformation through its focus on 5G, artificial intelligence, cloud computing and other advanced digital technologies. He also highlighted the opportunities opening up for partnerships between the private sectors in both countries, particularly in clean and renewable energy, the Saudi Press Agency reported.

Yoon congratulated Saudi Arabia for its SEHA Virtual Hospital project and noted the Kingdom’s desire to reduce medical costs and enhance healthcare through collaborations with South Korea. He added that he is also eager to expand cooperation in the fields of space exploration, lunar exploration, satellite development and space technology.

Abdullah Al-Swaha, the Saudi minister of communications and information technology, said that Yoon’s state visit to the Kingdom underscores a strategic partnership between the two countries that has spanned more than six decades.

Saudi Investment Minister Khalid Al-Falih added: “The two countries have a golden opportunity for partnership in areas such as 5G and 6G technologies, open radio access networks, and generative artificial intelligence.”

During his visit to KACST, Yoon also toured an exhibition showcasing the Kingdom’s development of its digital economy, innovation frameworks and space sector. He was briefed on a number of projects and initiatives designed to address global challenges and achieve national objectives in research and development, in line with the goals of the Saudi Vision 2030 development and diversification agenda.

The president also heard about the outcomes of the four workshops in which Saudi and Korean scientists took part during the forum, in the fields of digital technologies, clean energy, advanced biotechnologies and space.

Also on Monday, Yoon and his delegation visited King Saud University, where the president met students and wished them great success in their scientific and practical studies and careers.
 


Saudi-Yemen program provides $81.2m to operate more than 70 power plants

Updated 21 January 2026
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Saudi-Yemen program provides $81.2m to operate more than 70 power plants

  • Grant will improve reliability of electrical power to critical facilities, including hospitals, medical centers, roads, schools, airports and ports
  • Move follows last week’s announcement by the SDRPY of a larger aid package totaling $506 million to support Yemen

LONDON: A tripartite agreement was signed on Wednesday between the Saudi Development and Reconstruction Program for Yemen, the oil company Petromasila, and Yemen’s Ministry of Energy and Electricity to supply petroleum derivatives for the country’s power plants.

SDRPY is supporting the Yemeni government with an $81.2 million grant to purchase 339 million liters of diesel and mazut from Petromasila to operate more than 70 power plants across various Yemeni governorates.

The grant follows last week’s announcement by the SDRPY of a $506 million aid package to support Yemen’s education, health, government and infrastructure sectors.

The SDRPY highlighted that the grant will improve the reliability of electrical power to critical facilities, including hospitals, medical centers, roads, schools, airports and ports. Additionally, the funding will stimulate the Yemeni economy and support the Central Bank of Yemen by easing the pressure on foreign exchange reserves.

It reduces the Ministry of Finance’s fuel-related financial burden and supports the Ministry of Electricity and Energy in improving the efficiency of power plants in Yemen, the SDRPY said.

In 2018, the SDRPY provided $180 million, in addition to $422 million in 2021 and another $200 million in 2022, as grants to Yemen to purchase oil derivatives and operate vital sectors of the country.