SEOUL, June 11 (Korea Bizwire) — South Korea and Saudi Arabia will form a 208.4 billion-won (US$155 million) joint fund to help Korean startups attract investments and advance to the Middle Eastern market, government officials said Sunday. Saudi Arabia will inject 195.4 billion won into the fund and Korea Venture Investment Corp. will invest the [...]
SEOUL, June 8 (Korea Bizwire) — An exhibition showcasing Saudi Arabia’s lucrative Neom smart city project will be held at Dongdaemun Design Plaza (DDP) in Seoul. The Ministry of Land, Infrastructure and Transport announced on Wednesday that the Seoul Neom exhibition will take place from July 26 to August 3. Neom is Saudi Arabia’s US$500 [...]
SEOUL, May 17 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, said it has signed an initial agreement with Saudi Arabian firm Beez Logistics as part of its efforts to expand its business in the Middle East. With the memorandum of understanding, CJ Logistics will share its logistics experience, technology and [...]
SEOUL, May 12 (Korea Bizwire) — South Korean logistics giant CJ Logistics Corp. is making a foray into the Middle East market by establishing a distribution center in Saudi Arabia, targeting cross-border e-commerce demand. The company said Thursday it had signed an agreement with Saudi’s General Authority of Civil Aviation to establish a global distribution [...]
SEOUL, May 9 (Korea Bizwire) — South Korea and Saudi Arabia signed two initial agreements on Tuesday for future mobility and roads, the transport ministry said, in the latest move to boost cooperation between the two countries. The memorandums of understanding call for cooperation in the future of mobility and innovation in the transport and [...]
SEOUL, March 16 (Korea Bizwire) — The Pinkfong Co., a Korean animation company, said Thursday it has signed an agreement with the Saudi Arabian government to collaborate in the family entertainment content business in the Middle Eastern nation. The creator of popular kids song “Baby Shark” and Pinkfong characters signed a memorandum of understanding (MOU) [...]
SEOUL, Sept. 29 (Korea Bizwire) — SsangYong Motor Co., a South Korean SUV-focused carmaker, said Thursday it will export about 170,000 vehicles to a Saudi Arabian company by 2030 in the form of semi knockdown (KD) units. In January, SsangYong Motor signed the KD supply deal with Saudi National Automobiles Manufacturing Co. (SNAM) for seven [...]
SEOUL, Feb. 7 (Korea Bizwire) — Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund (PIF), has made an equity investment worth about 1 trillion won in South Korean game publisher Nexon Co. Some market watchers interpreted this investment as a sign that Tokyo-listed Nexon’s business potential was recognized by the PIF, which [...]
SEOUL, March 29 (Korea Bizwire) — SK Gas, a key energy affiliate of energy and telecom conglomerate SK Group, said Sunday that it has reached a deal with Saudi’s Advanced Petrochemical Co. (APC) to set up a joint venture to build a US$1.8 billion plant in the kingdom. SK Gas Petrochemical, SK’s special purpose company, [...]
SEOUL, Nov. 23 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount chain operator, said Thursday its beauty brand will open a store in Saudi Arabia next year, as the retailer attempts to expand its presence in the overseas market. The company said it signed an agreement with the Middle Eastern country’s major retail group [...]