Saudi Arabia, South Korea seek to assess bilateral ties

Saudi Arabia is presently seeking to forge deeper economic ties with South Korea, the Kingdom’s Ministry of Media said on its Twitter, citing Crown Prince Mohammed Bin Salman.

“Both states are seeking to capitalize on the untapped economic and trade potential, in addition to boosting the defense capabilities, expanding bilateral cooperation, bolstering industries and improving the quality of life,” the Crown Prince said during his meeting with South Korean President Moon Jae-in.

He arrived in Seoul on Wednesday for the first leg of his official trip to South Korea and Japan.

Read: Prince Mohammed arrives in South Korea

Beyond traditional fields like construction and energy, the two nations seek to increase the scope of cooperation into other sectors, including ICT, nuclear power and health care.

“Mutual partnerships will represent an added value, as both states have several mutual projects in fields of politics, security, defense, economy, as well as cultural as well as social fields,” the Crown Prince further added.

In October, 2017, Saudi Arabia and South Korea launched their Saudi-Korean Vision 2030 project to promote Saudi Arabia's exchanges with Asia's fourth-largest economy.