S. Korea, Saudi Arabia issue a joint statement in 43 years

President Yoon Suk Yeol of South Korea and Prime Minister Mohammed bin Salman of Saudi Arabia have adopted a joint statement outlining their commitment to expanding mutual investments in key sectors of shared interest. These sectors include the hydrogen economy, smart city initiatives, future-oriented transportation, and startup support. The joint statement comprising 44 clauses represents a significant milestone in their diplomatic relations. It marks the first state visit by a South Korean President to Saudi Arabia in 43 years since President Choi Kyu-hah’s visit in May 1980.

The joint statement specifically underscores the intention of both nations to bolster cooperation in trade and investment, construction and infrastructure development, defense and security matters, and energy initiatives, with a clear focus on promoting collaboration in the realm of carbon-free energy, environmentally friendly construction practices, and renewable energy solutions. Furthermore, both parties have agreed to commit to ensuring the success of Saudi Arabia’s giga-projects, including the Neom Project, Qiddiya (entertainment complex), Diriyah (historical site), ROSHN (housing supply), and the Red Sea Project. This signifies a transition from their previous collaboration centered predominantly on oil and construction toward a highly advanced and forward-looking strategic partnership.

Both nations are poised to strengthen their cooperation in defense and security. During his discussions with the Saudi Defense Minister and Minister of the National Guard, President Yoon expressed his desire for South Korea to contribute to Saudi Arabia’s defense sector reform and enhance its defense capabilities. In response, the Saudi defense minister conveyed his aspiration for a cooperative relationship in the next-generation defense sector, encompassing technology and joint projects.

At a banquet with business leaders, the South Korean president announced that South Korea had secured MOUs and contracts amounting to 15.6 billion U.S. dollars in exports. He highlighted the potential for a “Middle East boom” as a means to address the complex challenges facing South Korea. President Yoon pledged to exert every effort to facilitate exports and secure contracts that benefit Korean businesses. “Please don’t hesitate to voice your concerns if you encounter any difficulties or inequities,” President Yoon said.

In a written interview with the state media QNA, President Yoon underscored the broadening of bilateral cooperation beyond the energy and construction sectors. “This expansion now encompasses investment, defense, agriculture, and the exchange of human resources,” he said. The South Korean president will visit Qatar on Tuesday (local time) as part of his continued diplomatic efforts in the region.


Kwan-Seok Jang jks@donga.com