SEOUL, Dec. 14 (Korea Bizwire) — Saudi Arabia is open to partnering with South Korea in joint mine investments in third countries to help Seoul strengthen its supply chain resilience involving rare earth minerals, a senior Riyadh official said Thursday. In an interview with Yonhap News Agency held in Seoul, Bandar Alkhorayef, Saudi minister of [...]
SEOUL, BUSAN & PARIS, Nov. 29 (Korea Bizwire) –Following Busan’s unsuccessful bid for the 2030 World Expo, Busan National University Professor Kim Yi-tae, an advisor to the Busan Expo Hosting Committee, has claimed that vote buying occurred. Kim made this revelation during a press conference held on the sidelines of the International Expositions Bureau (BIE) [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korean tech giant Naver Corp. said Tuesday it has struck a deal with the Saudi Arabian government to create a digital twin platform for the country’s capital Riyadh and four other cities. Under the deal with Saudi’s Ministry of Municipal, Rural Affairs and Housing, Naver will build digital [...]
RIYADH, Oct. 22 (Korea Bizwire) — South Korea and Saudi Arabia will sign 51 deals and memorandums of understanding (MOU) worth a total of US$15.6 billion on the occasion of South Korean President Yoon Suk Yeol’s state visit to the Arab country, his office said Sunday. Most of the agreements were signed Sunday during a [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Monday it has signed a joint venture deal with Saudi Arabia’s Public Investment Fund (PIF) to build a car assembly plant in the Middle Eastern country. Under the deal signed Sunday in Riyadh, the two sides will jointly invest over US$500 [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hana Financial Group said Tuesday it has signed a preliminary agreement with Saudi Arabia’s Export-Import Bank (EXIM) to expand financial cooperation and support South Korean companies participating in Saudi Arabia’s national project. Hana signed a memorandum of understanding with the EXIM bank at the headquarters of Saudi Arabia’s National [...]
SEOUL, Sept. 22 (Korea Bizwire) — South Korea’s foreign ministry on Friday welcomed Saudi Arabia’s recent discussions with Yemen’s Houthi delegation amid efforts for a cease-fire to end the yearslong conflict in the region. “Our government welcomes the recent talks in Riyadh, Saudi Arabia, to resolve the Yemen issue, and recognizes the continuous efforts of [...]
Noor Riyadh Festival returns for its third edition, which will feature over 120 artworks by more than 100 artists across five hubs in the capital of Saudi Arabia, from November 30 to December 16 The festival features local and international artists and offers diverse workshops, thought-provoking seminars, and stimulating artistic discussions. The curatorial team of the Noor Riyadh 2023 festival is composed of Jérôme [...]
SEOUL, Aug. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co., South Korea’s No. 2 builder, said Tuesday it has bagged a US$145 million order to lay power transmission lines in Saudi Arabia. The deal, signed with a Saudi state power company, calls for building 207 kilometers of a 525-kilovolt, 605-km transmission line between Saudi [...]
RIYADH, Saudi Arabia, June 22 (Korea Bizwire) — The Kingdom of Saudi Arabia has made exceptional progress in the 2023 IMD World Competitiveness Yearbook rankings. From 2022 to 2023, the Kingdom advanced from 24th to 17th rank, marking a tremendous leap in its global standing. According to the yearbook, six of the twelve capital market indices [...]