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Saudi-Korean Tour: Saudi Arabia, South Korea Launch Bilateral Program To Promote Investment In Mobility | |
| Radhika Laghate |
The launch event took place in Seoul, the capital of South Korea, and featured presentations from both sides showcasing the potential for investment.
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In a high-profile bilateral initiative, Saudi Arabia and South Korea have embarked on the "Saudi-Korean tour" program, aimed at highlighting investment opportunities in the transport and logistics sectors. The launch event took place in Seoul, the capital of South Korea, and featured presentations from both sides showcasing the potential for investment.
The Saudi delegation utilized the platform to outline the Kingdom's investment prospects in public transport, air transport, roads, ports, railways, and logistics services. Additionally, they discussed a visionary rail project that aims to connect three continents, demonstrating their commitment to positioning Saudi Arabia as a global logistics hub. The presentation also emphasized various initiatives, programs, and projects aimed at strengthening the Kingdom's stature in the industry.
On the other hand, the Korean delegation presented investment opportunities in transportation innovation, including the adoption of modern transportation systems, electric vehicles, and buses. They also highlighted prospects in road map applications and the development of airports, air navigation, and ports. Notably, their focus extended to the transition towards smart cities, showcasing South Korea's vision for future urban development.
Reports suggest that the two parties have signed two Memoranda of Understanding (MoUs) to deepen cooperation in the fields of future mobility and roads. This signifies their commitment to collaborating and fostering advancements in the mobility sector. The MoUs were officially launched by Saleh bin Nasser Al-Jasser, Saudi Arabia's Minister of Transport and Logistics Services, and Won Hee-ryong, South Korea's Minister of Land, Infrastructure, and Transport.
The Saudi-Korean tour represents a significant step forward in strengthening bilateral relations between the two nations, particularly in the transport and logistics domains. It highlights their mutual interest in exploring investment opportunities and fostering technological advancements. This collaborative effort is expected to facilitate knowledge sharing, encourage economic growth, and pave the way for future cooperation in the ever-evolving field of transportation. Both Saudi Arabia and South Korea are poised to leverage each other's strengths and expertise, leading to a prosperous future for their respective transportation sectors.