Seoul: South Korea and Saudi Arabia have agreed to expand their bilateral cooperation to include advanced industries, such as shipbuilding, automotive, and artificial intelligence (AI), Seoul's industry ministry stated, pledging support for joint projects between the two nations.
According to Yonhap News Agency, Seoul and Riyadh developed 11 new cooperation projects and reviewed the implementation status of 46 ongoing projects during the Korea-Saudi Vision 2030 Committee meeting held in Seoul. The new projects include plans to jointly develop technologies to reduce carbon emissions in shipbuilding, as well as advancements in automobile engine and hybrid car technologies.
The projects will also focus on digital transformation and AI innovation, alongside cooperation in the entertainment sector, including film, e-sports, and tourism industries. Korean internet giant Naver Corp. is set to apply AI technologies to its digital twin platform for major Saudi cities like Makkah, Madinah, and Jeddah, aiming to provide smart city solutions.
In the shipbuilding sector, major Korean shipbuilder HD Hyundai Heavy Industries Co. and Saudi's Aramco are collaborating to complete the construction of the biggest shipyard in the Middle East in Saudi Arabia by the end of this year. Additionally, Hyundai Motor Co. is working with Saudi's Public Investment Fund to establish a car manufacturing plant in King Abdullah Economic City.
To ensure the successful implementation of these projects and further expand cooperation in key industries with growth potential, such as AI and soft power, South Korea will maintain a regular communication channel with Saudi Arabia, as stated by Industry Minister Kim Jung-kwan.