By Kang Gahui and Lee Jihae

Photos = Yonhap News

President Moon Jae-in, on an official visit to Saudi Arabia, on Jan. 18 attended a summit with Saudi Crown Prince Mohammed bin Salman at Yamamah Palace, the Saudi king's official residence, in Riyadh. 

The two exchanged opinions on the advance of Korean companies in the Saudi nuclear power market and weapons exports.

Cheong Wa Dae Spokesperson Park Kyung-mee in a briefing quoted President Moon as saying he was glad that bilateral cooperation in national defense has expanded significantly, adding that negotiations for adopting Korea's "superior" defense supplies are underway and that he hopes for "good results."

The president also said Korea will go beyond simply exporting its weapons systems and cooperate as much as possible to enable production in Saudi Arabia via technology transfers.

Crown Prince bin Salman said, "Cooperation through technology sharing is important in the defense industry and national defense," adding, "Saudi Arabia aims to localize defense industry technology by 2030, and Korea is a good partner given its experience in localizing weapons."

Saying Korean nuclear technology has the world's highest levels of economic feasibility and safety, the president said Korea has successfully implemented commercial operation of the Barakah Nuclear Energy Plant in the United Arab Emirates. He also said he is certain Korea the "optimal partner" for the Saudi nuclear power industry. 

Also on the same day, President Moon held talks with Aramco CEO and Public Investment Fund Governor Yasir bin Othman Al-Rumayyan.

Aramco is the world's largest energy corporation that develops Saudi oil and oversees the Arab country's energy industry, and the fund is the world's ninth-largest asset. Cheong Wa Dae said Gov. Al-Rumayyan is a pivotal figure in the Saudi economy.

President Moon said the two countries have maintained a mutually beneficial relationship, citing examples like Aramco's investment in S-Oil of Korea, joint ventures in shipyard and shipping engine factories and the fund's investment in POSCO E&C, urging continuous strengthening of cooperation.

Gov. Al-Rumayyan lauded Korea's digital competitiveness and high dependability in plant construction, adding that he will continue cooperation to keep promoting investment in Korea.

Cheong Wa Dae said President Moon's visit to Saudi Arabia resulted in the conclusion of 11 agreements on cooperation in education, resource transactions between Korean corporations and Aramco, and collaboration in hydrogen supply networks.

kgh89@korea.kr