President Park Geun-hye has launched an extensive "business diplomacy" campaign in Saudi Arabia.

She attended the Korea-Saudi Arabia Business Forum on March 4 and suggested that the two nations need to diversify their bilateral cooperation, which for many years has been based on petroleum and construction. The new areas of cooperation the president suggested include nuclear energy, renewable energy, medical & healthcare services and investment.




"The two countries' bilateral cooperation needs to be diversified further in order to develop future energy sources, including nuclear power and renewable energy," said President Park.

"Saudi Arabia has the biggest population among Arab gulf countries and there is a fast-growing demand for medical & healthcare services, education and information technology, among others," the president said. "The two nations should cooperate on service industries, including medical & healthcare services and education."

"With abundant financial resources, Saudi Arabia is investing in promising industries and infrastructure across the world. It is also increasing its investment in Korean companies," said President Park. "Let's expand investment together in large joint projects."



Later, President Park met with Al-Waleed bin Talal, the chairman of the Kingdom Holding Company, and asked for investments to be made in Korea's creative industries.

In response, Chairman Al-Waleed responded, "Hearing about the creative industries, I immediately developed an interest in them. I have an interest in many different activities related to culture and to humanitarian aids."




President Park then met with Hashem Abdullah Yamani, the president of the King Abdullah City for Atomic & Renewable Energy (K.A.CARE).

"There is huge potential for bilateral cooperation on developing renewable energy, especially solar power," said President Park. "In addition to existing Korean companies doing business in Saudi Arabia, please take an interest in and cooperate with Korean solar power companies that have high technological competence."

In response, Yamani responded by saying that, "As for nuclear power generation, the two nations need to cooperate on transferring technology and training human resources. A memorandum of understanding recently signed between the two nations includes these items."




Afterward, President Park visited the National Museum in Riyadh and the Masmak Fortress in its suburbs.

The president looked around the museum after sampling some dates and drinking coffee, traditional delights provided for visitors to the country.




President Park also visited the Masmak Fortress, a symbol of national pride in Saudi Arabia. The president wrote, "I hope for a friendly relationship between Korea and Saudi Arabia here at the Masmak Fortress, a historic place in the Saudi Arabian kingdom," in the guestbook.



By Limb Jae-un
Korea.net Staff Writer
Photos: Cheong Wa Dae
jun2@korea.kr