Yoon's State Visits to Saudi Arabia and Qatar... Expanding Economic Cooperation and Addressing Middle East Issues (Comprehensive)

Preparation for summit talks, investment cooperation, and future generation meetings
Economic delegation including Chairman Lee Jae-yong accompanies... exploring new cooperation areas
Israel-Hamas conflict... Presidential Office "Security situation also discussed"

President Yoon Suk-yeol will make state visits to Saudi Arabia and Qatar from the 21st for a 4-night, 6-day schedule. President Yoon plans to expand economic cooperation with both countries as well as express his stance on the Middle East's biggest issue, the 'Israel-Palestine conflict.' A large-scale Middle East economic delegation, including Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, Hanwha Vice Chairman Kim Dong-kwan, and GS Chairman Huh Tae-soo, will accompany him. The Presidential Office forecasted, "This visit will serve as an opportunity to invigorate our economy and industry and deepen mutually beneficial cooperation that aids our economic development."

Kim Tae-hyo, First Deputy Director of the National Security Office, held a briefing at the Yongsan Presidential Office on the afternoon of the 19th to announce President Yoon's Saudi Arabia and Qatar tour plans. This is the first time a South Korean head of state has made state visits to Saudi Arabia and Qatar.

[Image source=Yonhap News]

State Visits from Saudi Arabia to Qatar... Possibility of Expanding Major Cooperation Projects Including Neom City

President Yoon will arrive in Riyadh, the capital of Saudi Arabia, on the afternoon of the 21st (local time) and begin official state visit schedules from the 22nd. After the official welcoming ceremony, President Yoon will hold a summit and a state luncheon with Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia.

That evening, he will attend three economic events: the Korea-Saudi Investment Forum, the Korea-Saudi Future Technology Partnership Forum on the 23rd, and the 50th Anniversary Ceremony of Korea-Saudi Construction Cooperation, encouraging businesspeople from both countries. Deputy Director Kim explained, "(President Yoon) plans to emphasize the need for future-oriented technological cooperation between the two countries." On the same day, he will also visit King Saud University to give a lecture to students.

On the last day of the Saudi visit, the 24th, he will attend the Future Investment Initiative Forum, known as the "Davos of the Desert," as the guest of honor and engage in a dialogue with the moderator on the current and future cooperation between Korea and the Middle East.

After completing the Saudi visit, President Yoon will immediately move to Doha, Qatar, continuing the state visit schedule for 1 night and 2 days until the 25th. His first schedule in Qatar is to visit the Korean Pavilion and other exhibitions at the Doha International Horticultural Expo. The Expo is being held under the theme "Green Desert, Better Environment," and Korea operates a pavilion showcasing excellent smart agricultural technology.

On the 25th, he will hold a summit with Emir Tamim bin Hamad Al Thani of Qatar and attend a state luncheon. Following this, he will encourage participants at the Korea-Qatar Business Forum, attended by 300 businesspeople from both countries. As the last schedule in Qatar, he will visit Qatar Education City, which positions itself as an educational hub in the Middle East, and engage in dialogue with young Qatari leaders.

Over 140 Participating Companies in the Economic Delegation... 'Korea Sales' Activities Aligned with the New Middle East Boom

Deputy Director Kim stated regarding the Saudi Arabia and Qatar tour, "Saudi Arabia and Qatar are our major trading partners and key players in regional politics and economy in the Middle East. Friendly cooperation with these countries is very important for our economy and security." He added, "Through this tour, we will solidify existing cooperative relations with Saudi Arabia and Qatar and seek cooperation in new fields."

He emphasized, "Partnerships with the Middle East are advancing to a new stage encompassing future industries such as hydrogen, IT, automobiles, shipbuilding, renewable energy, culture, and entertainment beyond energy and construction." He also noted, "The main schedules, themes, and participants of the tour were organized considering the evolving partnership."

This is why a large-scale economic delegation is accompanying the tour. The Middle East economic delegation includes Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, Hanwha Vice Chairman Kim Dong-kwan, GS Chairman Huh Tae-soo, HD Hyundai President Jung Ki-sun, and Doosan Enerbility Chairman Park Ji-won.

The economic delegation accompanying President Yoon's state visits to Saudi Arabia and Qatar consists of a total of 139 companies. The delegation is divided into 130 companies heading to Saudi Arabia and 59 companies to Qatar. It comprises 35 large corporations, 94 small and medium-sized enterprises, 3 public enterprises and institutions, and 7 economic and cooperative organizations.

Amid the new Middle East boom, this delegation, organized under the banner of 'Korea Sales,' is tailored to the Middle East, covering construction and infrastructure, smart cities and agriculture, clean energy, defense, automobiles and advanced manufacturing, ICT, and bio sectors. Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, Hanwha Vice Chairman Kim Dong-kwan, and GS Chairman Huh Tae-soo will visit only Saudi Arabia.

In Saudi Arabia, since Crown Prince Mohammed's visit to Korea last November, bilateral relations have been elevated to a "strategic partnership," and cooperation on the Neom City new town project has begun in earnest, creating a peak atmosphere for economic cooperation between the two countries. Additionally, Qatar is gaining 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 participate in various events such as the Korea-Saudi Investment Forum and MOU signing ceremony hosted by the Korea-Saudi Business Council and 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 plans and have opportunities to build networks and expand business with Saudi and Qatari government officials and businesspeople.

Kim Tae-hyo, the First Deputy Director of the National Security Office, is explaining the schedule of President Yoon Seok-yeol and his wife's state visits to the Middle Eastern countries Saudi Arabia and Qatar at the Presidential Office building in Yongsan, Seoul on the 19th.
[Photo by Yonhap News]

Likely to Express Concerns over Middle East Security Situation... Plans to Actively Provide Humanitarian Aid for Civilians

During this tour, there is a possibility that President Yoon will express his position on the Middle East security situation. Following the Ukraine war, as clashes between Israel and the Palestinian armed faction Hamas intensify, President Yoon plans to discuss security issues during the summit meetings with Saudi Arabia and Qatar. Deputy Director Kim said, "The ongoing Israel-Hamas conflict, which is walking on thin ice, is a matter directly related to Middle East peace and regional order," and added, "Discussions on the security situation are expected to take place during the summit meetings."

He also hinted at the possibility of humanitarian aid for the conflict areas. Deputy Director Kim explained, "Our government is deeply concerned about the sharp increase in civilian casualties," and said, "If necessary, we will actively provide support on a purely humanitarian basis regarding refugee issues within or around Palestine." He added, "Saudi Arabia, as a key actor in Middle East security and order, has been involved in regional and international conflicts such as the Yemen civil war and the Ukraine war through negotiation mediation and humanitarian aid." He also noted, "Qatar has built a multifaceted network with countries holding various interests and has played the role of a regional mediator." He concluded, "Through President Yoon's tour, we will strengthen practical cooperation with Saudi Arabia and Qatar, promote regional peace, and discuss cooperation measures to enhance our security."

This content was produced with the assistance of AI translation services.