The Saudi-Korea Business Roundtable
The Saudi-Korea Business Roundtable, held on September 11, 2023, in Riyadh, was a significant event aimed at enhancing economic cooperation and fostering new business opportunities between Saudi Arabia and South Korea. This event was part of the broader Saudi-Korea Vision 2030 committee efforts to align strategic interests and explore investment opportunities.
The roundtable featured high-level discussions and resulted in multiple agreements across various sectors. Key areas of focus included clean energy, smart infrastructure, digitalization, healthcare, and life sciences. Notable agreements included those involving the Public Investment Fund (PIF) and Saudi Aramco with leading Korean companies such as POSCO and Samsung C&T. These agreements aim to develop projects related to green hydrogen production, blue ammonia, and hydrogen fuel technologies [oai_citation:1,Saudi, Korean firms sign multiple business deals as countries partner on developing hydrogen economy | Arab News](https://www.arabnews.com/node/2006701/business-economy) [oai_citation:2,High Prospects for Saudi-Korean Cooperation in Establishing Industrial Cities](https://english.aawsat.com/home/article/3400456/high-prospects-saudi-korean-cooperation-establishing-industrial-cities).
Additionally, the event underscored the long-standing economic ties between the two nations, with South Korea being a major trading partner for Saudi Arabia. The roundtable also highlighted collaborative efforts in industrial development, including the establishment of high-efficiency factories and localization of advanced technologies [oai_citation:3,Saudi, Korean firms sign multiple business deals as countries partner on developing hydrogen economy | Arab News](https://www.arabnews.com/node/2006701/business-economy) [oai_citation:4,High Prospects for Saudi-Korean Cooperation in Establishing Industrial Cities](https://english.aawsat.com/home/article/3400456/high-prospects-saudi-korean-cooperation-establishing-industrial-cities).
The presence of high-profile representatives from both countries, including business leaders and government officials, further emphasized the strategic importance of this partnership in driving economic growth and achieving mutual goals [oai_citation:5,Saudi, Korean firms sign multiple business deals as countries partner on developing hydrogen economy | Arab News](https://www.arabnews.com/node/2006701/business-economy) [oai_citation:6,High Prospects for Saudi-Korean Cooperation in Establishing Industrial Cities](https://english.aawsat.com/home/article/3400456/high-prospects-saudi-korean-cooperation-establishing-industrial-cities).