MOSCOW (Pakistan Point News / Sputnik - 10th November, 2022) South Korean Industry Minister Lee Chang-yang and Saudi Investment Minister Khalid Al-Falih met in Seoul on Thursday and agreed to enhance their countries' economic cooperation in various areas, including on smart cities, the South Korean ministry said on Thursday.
"The ministers shared the assessment that it is timely for the two nations to push for new projects in auto, bio, smart city and gaming industries. They agreed to continue to explore ways to boost cooperation in such new industries as bio, hydrogen, gaming, entertainment and agricultural products sectors," the ministry was quoted as saying by the South Korean news agency Yonhap.
The parties also discussed cooperation in the framework of the Neom project, which involves the construction of a smart city in the northwestern Saudi region of Tabuk, the report said.
The two countries also held a business workshop in Seoul, during which Saudi Arabia called on South Korea to participate actively in Riyadh's major infrastructure, energy, and other related projects, Yonhap added.
Saudi Arabia is South Korea's top trading partner among middle Eastern countries, the news agency said. In addition, Saudi Arabia is the main oil supplier to South Korea, accounting for almost 30% of Seoul's total crude oil imports last year.
