RIYADH: Industrial ties between Saudi Arabia and Korea are set to strengthen following the meeting of Saudi Industry and Mineral Resources Minister Bandar Alkhorayef with top executives of several Korean companies on Thursday.
Alkhorayef, who is visiting South Korea, met with senior officials of Hyundai Heavy Industries Co. and visited the company’s factory in Ulsan to study the advanced shipbuilding, industrial and engineering facilities.
The minister also met officials from other companies, including GL Rapha Holding Co., Korea Aerospace Industries Co., Hanwha Mining Services Co., and Lotte Co.
The meetings covered the promising investment opportunities in the Kingdom’s industrial and mining sectors and their potential in other sectors.
The Saudi minister also discussed opportunities for cooperation in marine industries, given the Kingdom’s abundance of minerals used in the sector.
Alkhorayef also met with executives from Hyundai Motor Co. to explore a joint project agreement between the Public Investment Fund and the company to establish a highly automated car manufacturing plant in the Kingdom.
In Changwon, Alkhorayef has also met with officials from the auto spare parts manufacturer CTR and executives from Shinyoung Co., a manufacturer of auto accessories.
The minister’s bilateral meetings came within the framework of his official visit to Korea to boost cooperation and partnership in the industrial and mining sectors, plus expanding strategic bilateral collaboration between the two countries.
