By Sami M. Alsadhan

Saudi ambassador to Korea

The state visit of His Excellency, Republic of Korea President Yoon Suk Yeol, to the Kingdom of Saudi Arabia from Oct. 21-24 was an extension of the desire of the governments of both countries to strengthen their distinguished bilateral relations and discuss boosting them at all levels.

This visit consolidates and boosts ties between the two sides, Korea's belief in the effective regional and international role of the Kingdom in political, economic and cultural aspects, and Saudi Arabia's weight in all fields at the continental and global levels. The Kingdom also believes in Korea's influential role in the world and appreciates and respects the Republic's major economic reforms and plans. Korea has grown into one of the world's strongest economies and fastest growing and most developed countries over the past decades, possessing one of the most inspiring models of development and progress. This resulted in joint membership in the Group of 20 economies by both countries.

Accompanied by a high-level delegation including ministers and senior officials as well as an economic mission of 130 entrepreneurs and CEOs of major Korean companies, the trip of His Excellency President Yoon followed the historic visit to Korea in November last year by His Royal Highness Prince Mohammed bin Salman, the Saudi crown prince and prime minister, that achieved great success and contributed to reinforcing historical relations between the two countries. His Royal Highness' visit resulted in the conclusion of over 26 agreements worth USD 30 billion in economy, development, culture, investment and other fields.

I must point out that Korea is considered a strategic partner of the Kingdom in the strategic roadmap Vision 2030 under a memorandum of cooperation on Saudi-Korean Vision 2030, which was signed in October 2017. This is clear evidence that the Kingdom considers Korea an important economic partner for achieving Vision 2030. The memorandum eventually led to the formation of the Saudi-Korean Vision 2030 Committee of representatives from government agencies and relevant bodies in the two countries. In essence, this joint vision focuses on enhancing the flow of foreign direct investment by boosting commercial ties between the private sectors of both sides and recognizing economy and investment as one of the most important pillars on which bilateral relations are based, as the Kingdom is considered Korea's largest partner in the Middle East.

His Excellency President Yoon's visit to the Kingdom will greatly contribute to bolstering economic and investment ties between the two countries. On the sidelines of his trip, he visited a bilateral investment forum, technology event attended by both Saudi and Korean scientists and researchers, ceremony marking the 50th anniversary of bilateral cooperation in  construction and Future Investment Initiative, an annual forum dubbed "Davos of the Desert."

Saudi Ambassador to Korea Sami bin Mohammed Al-Sadhan assumed his post in June 2021.