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 [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean builder Samsung C&T Corp. will build modular homes in Saudi Arabia, the land and transport ministry said Wednesday. Land Minister Won Hee-ryong on Tuesday held a meeting with Yasir bin Al-Rumayyan, Governor of the Public Investment Fund (PIF), in Saudi Arabia with both parties signing a memorandum [...]
SEOUL, Jan. 12 (Korea Bizwire) — Kakao Entertainment Corp., an entertainment, media and publishing unit under the South Korean tech giant Kakao Corp., said Thursday that it has secured a 1.2 trillion-won ($963.8 million) investment from global sovereign wealth funds. The company said it is the largest overseas investment raised by a South Korean content [...]
SEOUL, Nov. 17 (Korea Bizwire) — Business leaders of South Korea and Saudi Arabia discussed ways Thursday to deepen their economic partnership, citing climate change, space technology and bio as new areas the two sides can cooperate on as future investment. The two nations’ governments and companies also signed some 20 memorandums of understanding (MOUs) [...]
RIYADH, Saudi Arabia, Oct. 17 (Korea Bizwire) — Noor Riyadh, the groundbreaking annual festival of light and art, will launch on November 3, 2022 (until 19 November 2022), accompanied by a 3-month art exhibition (November 3, 2022 – February 4, 2023) and dynamic public program. Following the success of the festival’s inaugural edition in 2021, [...]
HONG KONG, May 18 (Korea Bizwire) – Teksbotics is a Hong Kong-based autonomous driving solution provider. The company assists its customers to automate their transportation, delivery and patrol jobs. In this project, Teksbotics is partnering with its Saudi Logistic Partner - Alshrouq Express, which is one of the best last-mile delivery companies serving Amazon.com and Noon.com. In this pilot project, a purpose-built [...]
SEOUL, March. 11 (Korea Bizwire) — Saudi Arabia’s sovereign wealth fund has increased its stake in NCSOFT Corp. to become the second-largest shareholder, according to a regulatory filing Friday. Public Investment Fund (PIF) acquired an additional 563,566 shares of the major South Korean online and mobile game developer for around 290 billion won (US$240 million) [...]