Bin Salman asks Yoon for Korean companies' participation in Neom City

During his state visit on Friday, President Yoon Suk Yeol held several meetings with Crown Prince Mohammad bin Salman, where the Prince expressed a keen interest in the involvement of Korean companies in Saudi Arabia's ambitious 'Neom City' project and other expansive 'giga projects,' as confirmed by government sources. Considering the colossal scale of the 'Neom City' initiative, a groundbreaking $500 billion smart city venture, the Crown Prince's intent appears to capitalize on the advanced technological prowess of Korean industries. In a dialogue with President Yoon, the Crown Prince said, "Our cooperation with Korea, especially in the defense sector, is crucial. We are looking for robust collaboration." An insider noted that during a meeting on Monday with the Saudi Defense Minister and the Minister of National Defense, the rapport was exceptionally warm.

This collaborative overture aligns with the Prince's vision of fortifying Saudi Arabia's manufacturing prowess with the Korean partnership. As a forward-thinking monarch, Crown Prince Mohammad unveiled 'Vision 2030', marking a strategic pivot away from oil dependency and towards an advanced industrial framework. Cho Tae-yeong, chief of South Korea’s National Security Office, opined, "Crown Prince Mohammad, a visionary born in 1985, seems determined to lay a solid manufacturing foundation over the next several decades of his leadership." A notable gesture was observed on Tuesday when the Prince, in an unplanned visit, dropped by the State Guest House to engage with President Yoon. The cordial encounter culminated in the Prince personally driving Yoon to the Future Investment Initiative (FII) forum in a Mercedes.

Reflecting on these developments, a spokesperson from the presidential office remarked, "Saudi Arabia is captivated by Korea's rapid industrial evolution." The official further acknowledged the positive influence of Korea's vibrant culture, exemplified by global phenomena including K-pop, on strengthening bilateral ties. This sentiment is reinforced by the recent visit of the Saudi Minister of Culture to Korea, where prominent entertainment hubs, including CJ ENM, were on the agenda.


Kwan-Seok Jang jks@donga.com