Minister of Energy, Industry and Mineral Resources Khalid Bin Abdul Aziz Al-Faleh recently met Minister of Commerce, Industry and Energy in South Korea Jo Hyung-hwan, in Seoul, the capital. The two ministers discussed in the meeting recent developments in the global and regional economy, and the future of the energy sector in the region and the world, and ways to enhance the opportunities for cooperation and development of the historical and the strong partnership between the two countries, and reviewed the objectives of the Kingdom's Vision 2030, to achieve economic growth and diversity and encourage multiple investment opportunities in the industrial sector. The two ministers agreed to strengthen communication between the two parties to support and develop investment opportunities between the two countries, including opening up new horizons of prosperity and development for all. In a statement after the meeting, the Saudi minister said that the Kingdom considers South Korea as a strong partner, and one of the most important countries for the establishment of a bilateral relationship with them based on mutual benefit and for the good and prosperity of the two countries within the framework of the Kingdom's Vision 2030, which represents a starting point to explore areas of common interest between the two countries such as the ships industry, renewable energy, petrochemicals, information technology, the automotive industry and related industries. For his part, Minister of Commerce, Industry and Energy of South Korea expressed willingness for cooperation in industry and investment. The Korean minister said that the kingdom is the third largest oil supplier to South Korea, noting the leading role it plays in the stability of the global energy market.
