Lee Jae-yong, Chung Eui-sun, Kim Dong-kwan, and Others Head to Saudi Arabia... Middle East Economic Delegation Confirmed

Lee Jae-yong, Chairman of Samsung Electronics; Chung Eui-sun, Chairman of Hyundai Motor Group; Kim Dong-kwan, Vice Chairman of Hanwha; Huh Tae-soo, Chairman of GS; and Jung Ki-sun, President of HD Hyundai, among others, will accompany President Yoon Suk-yeol on his state visits to Saudi Arabia and Qatar from the 21st to the 26th of this month as part of the Middle East economic delegation.

[Image source=Yonhap News]

On the 19th, the Korea Economic Association announced the list of 139 participating companies in the economic delegation accompanying President Yoon on his state visits to Saudi Arabia and Qatar. The delegation is divided into 130 companies heading to Saudi Arabia and 59 companies to Qatar. It consists of a total of 139 entities, including 35 large corporations, 94 small and medium-sized enterprises and mid-sized companies, 3 public enterprises and institutions, and 7 economic and cooperative organizations.

Amid a new Middle East boom, this delegation, organized under the banner of 'Korea Sales,' is tailored to the Middle East with sectors including construction and infrastructure, smart cities and agriculture, clean energy, defense, automotive and advanced manufacturing, ICT, and biotechnology.

Lee Jae-yong, Chairman of Samsung Electronics; Chung Eui-sun, Chairman of Hyundai Motor Group; Kim Dong-kwan, Vice Chairman of Hanwha; and Huh Tae-soo, Chairman of GS, are scheduled to visit only Saudi Arabia. Jung Ki-sun, President of HD Hyundai, will visit both Saudi Arabia and Qatar.

In the case of Saudi Arabia, since Crown Prince Mohammed's visit to Korea last November, the bilateral relationship has been elevated to a 'strategic partnership,' and cooperation on the 'NEOM City' new town project has been actively progressing, creating a peak atmosphere for economic cooperation between the two countries. Additionally, Qatar has attracted attention as a major Middle Eastern partner, with the first Korea-Qatar Investment Forum held in June and growing expectations for large-scale LNG ship orders from Korean companies.

The economic delegation will attend various events such as the Korea-Saudi Investment Forum and MOU signing ceremony hosted by the Korea Economic Association and the Saudi Ministry of Investment, the Korea-Qatar Business Forum and MOU signing ceremony hosted by the Korea Chamber of Commerce and Industry, and trade consultations hosted by the Korea Trade-Investment Promotion Agency (KOTRA). They will discuss economic and industrial cooperation measures between the two countries and have opportunities to build networks and expand business with Saudi and Qatari government officials and businesspeople.

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