"Tunneling Expertise of Korean Companies Tops the World"… Yoon Launches Sales at NEOM Exhibition Hall

Promoting Korean Companies at NEOM Exhibition Hall... Emphasizing 'Korea-Saudi Infrastructure Cooperation'
Highlighting Korean Smart City Technology as "Beneficial for Saudi Side"

[Image source=Yonhap News]

President Yoon Suk-yeol, on a state visit to Saudi Arabia, visited the NEOM exhibition hall located in Riyadh to promote the technological capabilities of Korean companies. President Yoon emphasized infrastructure cooperation between Korea and Saudi Arabia, explaining that the active participation of Korean companies in the development of NEOM City would also be advantageous for the Saudi side.

On the 23rd (local time), President Yoon toured the exhibition hall in Riyadh's NEOM exhibition center, guided by Nadmi Al Nasr, CEO of NEOM, and viewed exhibits introducing projects such as The Line.

The NEOM City project is led by Crown Prince Mohammed bin Salman, the de facto ruler of Saudi Arabia. With a total construction cost of $500 billion (approximately 650 trillion KRW), it consists of a self-sufficient linear city called The Line, spanning 170 km²; the Octagon, a high-tech octagonal industrial complex floating on the sea; and Trojena, a large-scale eco-friendly mountain tourism complex. Plans also include twin towers with the world's largest width and a height of 500 meters.

At the venue, after hearing explanations from the Saudi side, President Yoon said, "They say the Great Wall of China can be seen from satellites, but once NEOM City is built, it might be even more visible," adding, "I want to see this world-class project come to fruition." He then mentioned Sejong City, built with smart city technology, stating, "Smart systems for power and transportation are introduced, and digital technology is essential, so the participation of Korean companies in the construction of NEOM City would also be beneficial for Saudi Arabia."

In particular, while examining the NEOM City model, upon learning that some disconnected sections are mountainous areas requiring tunnels, President Yoon remarked, "Korea has many mountains, so Korean companies are the best in the world at tunneling through mountains." A Saudi official reportedly said, "The President does not waste even a second on sales for Korean companies."

According to the government, contracts worth a total of $25 billion are being pursued for six projects including tunnels, architectural structures, and ports in NEOM City. Additional achievements are expected by next year. Among these, Samsung C&T and the Saudi Public Investment Fund (PIF) have agreed to establish a joint venture for smart construction, including modular construction and construction automation. Starting at the end of next year, a factory producing modular structures will be newly built and prioritized for application in NEOM City construction.

Earlier, in a speech commemorating the 50th anniversary of Korea-Saudi relations, President Yoon highly praised past cooperation, saying, "The efforts of our Korean entrepreneurs and workers are embedded in over 1,900 projects across Saudi Arabia." He added, "Building on the solid foundation established between Korea and Saudi Arabia, we must open a new future of infrastructure economic cooperation that meets technological changes and the demands of the times," and presented a vision that "if Korea's advanced urban construction capabilities are combined with Saudi Arabia's NEOM City project, the two countries can jointly present a new model for future cities."

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