Crown Prince, Yoon forge strategic partnership between Saudi Arabia and South Korea Landmark agreements signed to deepen bilateral cooperation across economic, energy, and technological fronts

RIYADH — Crown Prince and Prime Minister Mohammed Bin Salman warmly welcomed South Korean President Yoon Suk Yeol in Riyadh on Sunday, marking the second day of President Yoon's four-day state visit to Saudi Arabia.
The leaders engaged in extensive talks at the Al Yamamah Palace, where an expanded meeting and an official talks session took place.
At the onset, Crown Prince Mohammed expressed his cordial welcome to President Yoon, extending wishes for a pleasant stay.
In response, President Yoon conveyed his gratitude for the generous hospitality and warm reception extended to him and his accompanying delegation.
The discussions delved into a comprehensive review of bilateral relations between Saudi Arabia and Korea.
The leaders explored joint coordination efforts to strengthen cooperation across various fields, contemplating opportunities to leverage the abundant resources of both nations for mutual benefit.
The talks also encompassed regional and international developments, reflecting the common interests and collaborative efforts shared by the two nations.
In a joint effort to deepen their strategic partnership, Crown Prince Mohammed Bin Salman and President Yoon Suk Yeol expressed their commitment to enhancing the strong ties between their countries.
The leaders, signaling a forward-looking approach, agreed to explore new avenues of economic collaboration beyond the traditional realms of construction and energy.
A press release from President Yoon's office highlighted the leaders' commitment to further develop the strategic partnership initiated in November during Crown Prince Mohammed's visit to Seoul.
They welcomed the signing of a memorandum of understanding outlining the details of the "strategic partnership committee" established during the November visit.
President Yoon, recognizing Saudi Arabia's significant transformation in the post-oil era, requested the Crown Prince and the Saudi government's support for South Korean companies participating in major development projects, including NEOM, Qiddiya, and the Red Sea.
Emphasizing South Korea as an optimal partner for Saudi Arabia, President Yoon expressed optimism about expanding bilateral cooperation into cutting-edge industrial partnerships, including joint ventures in automobile and ship manufacturing.
He also expressed hopes for collaboration in tourism and cultural exchange.
Subsequently, Crown Prince Mohammed and President Yoon witnessed the signing ceremony of several key agreements and memoranda of understanding, further solidifying the collaboration between the two nations.
The first agreement establishes a Strategic Partnership Council between the governments of Saudi Arabia and Korea. Minister of Foreign Affairs Prince Faisal Bin Farhan signed on behalf of Saudi Arabia and Minister of Foreign Affairs Park Jin signed for Korea.
The second agreement, named the Hydrogen Oasis Initiative, aims to foster cooperation in the realm of green and clean hydrogen. Minister of Energy Prince Abdulaziz Bin Salman, signed for Saudi Arabia and Minister of Trade, Industry, and Energy Bang Moon-kyu signed for Korea.
The third agreement is a visa exemption pact for holders of diplomatic, special, and official passports between the governments of Saudi Arabia and Korea. Minister of Foreign Affairs Prince Faisal Bin Farhan signed on behalf of Saudi Arabia and Minister of Foreign Affairs Park Jin signed for Korea.
The fourth agreement involved the implementation of a joint statistical cooperation program between the General Authority for Statistics in Saudi Arabia and the Korean Statistical Office.
Minister of Economy and Planning and Chairman of the General Authority for Statistics Faisal Al-Ibrahim signed for Saudi Arabia and Deputy Prime Minister and Minister of Economy and Finance Kyungho Choo signed for Korea.
The final agreement is a memorandum of understanding between the Saudi Food and Drug Authority and the Ministry of Food and Drug Safety in Korea, fostering cooperation in the fields of food and medical products.
Minister of Health and Chairman of the Saudi Food and Drug Authority Fahd Al-Jalajel signed for Saudi Arabia, and Minister of Foreign Affairs Park Jin signed for Korea.