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Korea, Saudi Arabia widen business ties to AI, EVs and aerospace
Versión 3: More outlets have now reported on the forum, adding remarks from Kolon and the Saudi Public Investment Fund and further detail on the Saudi and Korean companies taking part; no deals signed at the event have been reported.
En breve
South Korea and Saudi Arabia's business communities agreed to widen cooperation beyond construction and energy orders into joint investment, local production and technology at the 2026 Korea-Saudi Business Investment Forum in Seoul on Oct 6. The event was co-hosted by the Korea Enterprises Federation and Saudi Arabia's Public Investment Fund with industry ministry support, and drew roughly 250 to 280 businesspeople, according to differing outlet counts. Korean firms including Naver, POSCO E&C, Hyundai Rotem and KAI pitched projects, and no deals signed at the forum were reported.
Leer la noticia completa 3 min de lectura
South Korean and Saudi Arabian business communities met at the 2026 Korea-Saudi Business Investment Forum at FKI Tower in Yeouido, Seoul, on Oct 6, aiming to move cooperation beyond construction and energy orders toward joint investment, local production and technology. The forum was co-hosted by the Korea Enterprises Federation and Saudi Arabia's Public Investment Fund, with support from the industry ministry, and was organised around Saudi Arabia's Vision 2030 industrial diversification strategy. [ 2 , 3 , 4 , 6 , 7 , 8 ]
Yonhap reported about 250 businesspeople attended, and Electronic Times also put the figure at about 250 officials and executives. Asia Economy, CBS NoCut News and Newsis reported about 280. About 20 Saudi companies took part, including the PIF delegation and, according to Yonhap, EV maker Ceer, telecom operator STC and state defense company SAMI; Electronic Times also named container terminal operator SGP. Yonhap said about 90 Korean companies attended, among them Kolon, POSCO E&C, Naver, Hyundai Rotem and Korea Aerospace Industries, while Electronic Times said the Korean side included Hyundai. [ 2 , 3 , 4 , 6 , 7 , 8 ]
Kim Chang-beom, vice chairman of the Korea Enterprises Federation, said in his opening remarks that the two countries' economic cooperation must develop beyond ordering and winning contracts into a two-way partnership of joint investment, local production and technology cooperation, and said he hoped the forum would open a new chapter continuing beyond Vision 2030. [ 3 , 4 , 6 , 7 ]
Park Jung-sung, the industry ministry's trade chief, pointed to the trust the two countries have built as a key to turning challenges into opportunities amid geopolitical conflict, the AI revolution and protectionism. He named strengthening resource supply chains, accelerating advanced-industry cooperation through the AI transition and building up the institutional basis for economic cooperation, including pushing for early signature and effectuation of a Korea-GCC free trade agreement. Yonhap described his remarks as congratulatory; Asia Economy, Newsis, CBS NoCut News and Electronic Times said they were delivered by video. [ 2 , 3 , 4 , 6 , 7 , 8 ]
Kolon president Shin Sang-ho, speaking as a panelist, said that unlike Korean investment in Vietnam in the late 1980s, Saudi Arabia is pursuing strong projects backed by substantial investment capacity, and asked that Saudi Arabia entrust a range of industrial projects, including nuclear power and defense, to Korean companies. Abdullah Al-Husseini, PIF's head of strategy and external cooperation, said Korea has world-class capabilities, innovation, technology, capital and expertise, and that Saudi Arabia would offer Korean companies diverse business opportunities. [ 6 ]
The forum ran sessions on four tracks: special-zone development and construction; technology, media, telecoms and healthcare; utilities, resources and transport and logistics; and advanced industries, followed by one-on-one business consultations. Naver Cloud presented sovereign AI, digital-twin superapps and data centre work it is pursuing in Saudi Arabia; POSCO E&C presented urban and mixed-use development; Hyundai Rotem presented rail, port and logistics cooperation; and KAI presented fixed- and rotary-wing aircraft, drones and satellites and expressed intent to build joint development and production in Saudi Arabia. No agreements signed at the forum were reported. [ 2 , 3 , 4 , 6 , 7 , 8 ]
Yonhap reported that Saudi Arabia is South Korea's largest crude oil supplier and its largest trading partner in the Middle East. Yonhap and Electronic Times wrote that the forum was meant to match Saudi Arabia's Vision 2030 push to reduce dependence on energy and build an advanced manufacturing base. The Korea Enterprises Federation said it has been widening its economic cooperation networks with major countries, including a business forum with the Uzbek government last month. [ 2 , 5 , 8 ]
Por qué importa
The meeting moves a relationship long centred on oil supply and construction orders toward advanced manufacturing, which Saudi Arabia is pursuing under its Vision 2030 strategy. For Korean companies it opens a channel to what Yonhap and Electronic Times describe as Korea's largest trading partner in the Middle East. The documents report presentations, consultations and stated intentions but no signed contracts, so the practical outcome is not yet known.
Datos clave
- South Korea and Saudi Arabia are expanding cooperation beyond infrastructure and energy into advanced industries including electric vehicles, AI, healthcare and defense. [ 1 , 2 , 8 ]
- The 2026 Korea-Saudi Business Investment Forum was held on Oct 6 at FKI Tower in Yeouido, Seoul. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- The forum was co-hosted by the Korea Enterprises Federation and Saudi Arabia's Public Investment Fund, with support from the industry ministry. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- Attendee figures differ: Yonhap and Electronic Times reported about 250 businesspeople, while Asia Economy, CBS NoCut News and Newsis reported about 280. [ 2 , 3 , 4 , 7 , 8 ]
- Korean participants included Kolon, POSCO E&C, Naver, Hyundai Rotem and Korea Aerospace Industries (KAI); Electronic Times said about 90 Korean companies took part. [ 3 , 4 , 6 , 7 , 8 ]
- About 20 Saudi companies attended, including the PIF delegation and, per Yonhap, EV maker Ceer, telecom operator STC and state defense company SAMI; Electronic Times also named terminal operator SGP. [ 2 , 8 ]
- Discussions ran across four tracks: special-zone development and construction; technology, media, telecoms and healthcare; utilities, resources and transport and logistics; and advanced industries. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- Saudi Arabia is South Korea's largest crude oil supplier and its largest trading partner in the Middle East, Yonhap reported. [ 2 , 8 ]
Confirmado por varias fuentes
- South Korea and Saudi Arabia are widening cooperation into advanced industries such as electric vehicles, AI, healthcare and defense, beyond existing infrastructure and energy ties. [ 1 , 2 , 8 ]
- The 2026 Korea-Saudi Business Investment Forum took place at FKI Tower in Yeouido, Seoul, on Oct 6. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- The forum was co-hosted by the Korea Enterprises Federation and Saudi Arabia's Public Investment Fund, with industry ministry support. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- Kim Chang-beom, vice chairman of the Korea Enterprises Federation, called in his opening remarks for a two-way partnership covering joint investment, local production and technology cooperation. [ 3 , 4 , 6 , 7 ]
- Park Jung-sung, the industry ministry's trade chief, spoke in support of the partnership and of an early Korea-GCC free trade agreement. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- Korean companies including Kolon, POSCO E&C, Naver, Hyundai Rotem and KAI attended. [ 3 , 4 , 6 , 7 , 8 ]
- The forum was organised around Saudi Arabia's Vision 2030 strategy and covered four sector tracks with company pitches and one-on-one consultations. [ 2 , 3 , 4 , 6 , 7 , 8 ]
- Saudi Arabia is South Korea's largest crude oil supplier and its largest trading partner in the Middle East, according to Yonhap and Electronic Times. [ 2 , 8 ]
Aún sin aclarar
- How many people attended the forum. Yonhap and Electronic Times reported about 250 businesspeople, while Asia Economy, CBS NoCut News and Newsis reported about 280; the documents do not reconcile the figures.
- Whether Park Jung-sung delivered his remarks in person or by video. Yonhap described the remarks without specifying the format, while Asia Economy, Newsis, CBS NoCut News and Electronic Times said they were delivered by video.
- Whether any agreements, contracts or investment commitments were signed at the forum. The documents describe pitches and one-on-one consultations only; none reports a signed deal.
- The value or size of the cooperation discussed. No figures are given in any document.
Qué dicen los medios locales
Cronología, hora local
- Newsis and Yonhap publish reports on expanded Korea-Saudi cooperation in advanced industries, on the day of the forum. [ 1 , 2 ]
- Asia Economy and Newsis publish further reports on the forum, including attendee figures of about 280 and company presentations. [ 3 , 4 , 5 ]
- Seoul Economic Daily reports on the forum, including remarks by Kolon's Shin Sang-ho and PIF's Abdullah Al-Husseini. [ 6 ]
- CBS NoCut News reports that the two business communities are expanding cooperation into AI and aerospace. [ 7 ]
- Electronic Times reports on the forum, listing Saudi companies Ceer, STC, SAMI and SGP and about 90 participating Korean companies. [ 8 ]