- The first government agency to visit the site of NEOM… Joint innovation roadshow with the Saudi government
The Ministry of Land, Infrastructure, and Transport (Minister Hee-Ryong Won) dispatched an order support group led by Minister Hee-Ryong Won to Saudi Arabia for 4 days (based on working days) from November 9 to November 4 to provide information on mega projects such as Neom City*. He said that he actively supports the company's order-taking activities.
* Futuristic industrial, residential, and tourism special zone spanning Saudi Arabia, Egypt, and Jordan on a site of about 26.5 thousand km30 in Tabuk, northwestern Saudi Arabia
This visit is amid the expansion of the infrastructure market in the Middle East due to high oil prices, with Minister Won Hee-ryong as the head, the government and the private sector have formed 『One Team Korea』 and focused on Saudi Arabia*, where orders for mega projects such as Neom are in progress. It was planned to lead the boom in the Middle East.
* No. 1 in cumulative overseas construction orders (USD 1,557 billion) / 22.1% increase in GDP in Q9.6 of XNUMX
In particular, as the first Korean government agency to visit the site of NEOM to convey the government's willingness to cooperate, the 『Korea-Saudi Innovation Road Show』 was held jointly with the Ministry of Transport and Logistic Services (November 11.6, 10 local time). City) to publicize Korean companies and expand opportunities to enter Saudi Arabia.
One Team Korea, which is the first to sortie after the inauguration of Minister Won, is working with various industries such as construction, mobility, smart city, IT, and smart farm as well as the Ministry of Land, Infrastructure, and Transport to create a new future by converging the construction industry with culture and technology. It was formed to foster it as a high value-added business.
* Composition of One Team Korea (plan): (Government) Ministry of Land, Infrastructure, and Transport, (Public institution) Overseas Infrastructure and Urban Development Corporation, Korea Trade-Investment Promotion Agency (Organization) Overseas Construction Association, (Related company) 11 construction companies ( Hyundai Engineering & Construction Samsung C&T, Hanmi Global, Kolon Global, etc.), 2 mobility companies (Morai, Thor Drive), 3 smart city companies (Sesame Lab, Angel Swing, Potenit), 4 IT companies (KT, Naver, etc.), smart farm 2 companies (XNUMXMeet, Nthing)
Since establishing diplomatic ties with Saudi Arabia in 1962, Korea has maintained a close cooperative relationship.
Cooperation between the two countries in the field of construction infrastructure is very symbolic. Saudi Arabia is the first country where Korean construction workers entered the Middle East in 1973, and it is a key partner country where Korean companies participate in the most projects and rank first in accumulated overseas orders.
* 1st place Saudi Arabia ($ 1,551 billion), 2nd place UAE ($ 832 billion), 3rd place Kuwait ($ 489 billion)
Saudi Arabia has established 'Vision 2030*', a national strategy for industrial diversification, and is promoting large-scale development projects such as Neom City while fostering industries in the non-oil sector. We are pursuing bold change and innovation.
Currently, Korea is strengthening cooperation in various fields such as energy, construction infrastructure, IT, and manufacturing as a key partner of Saudi Arabia's 'Vision 2030'.
* National blueprint for economic growth through de-oil and industrial diversification (announced in April 16.4)
** Saudi Arabia selected Korea, the United States, Japan, China, India, Germany, France, and the United Kingdom as key partner countries ('17.3)
From November 6th to 8th, Minister Won plans to meet key Saudi government figures and CEOs of key clients such as NEOM to materialize cooperation and actively support Korean companies in order-winning activities.
We meet with high-ranking government officials related to Korean business activities, such as the Minister of Energy, the Governor of the Sovereign Wealth Fund, the Minister of Investment, the Minister of Tourism, and the Minister of Housing, and propose intergovernmental cooperation in various fields such as construction infrastructure, mobility, and smart city.
In particular, with the Minister of Transportation and Logistics, we will discuss ways to cooperate in transportation mobility and sign an MOU for future mobility cooperation to broaden the basis for cooperation between the two countries and strengthen the competitiveness of Korean companies in winning orders.
Arranges meetings between Korean companies and CEOs of subsidiaries of the Saudi Arabian sovereign wealth fund that promote city and real estate development, such as AL AKARIA, ROSHN, RED SEA Development Company, and QIDDIYA Development Company. We actively support Korean companies to build networks in Saudi Arabia.
In addition, we plan to visit the construction sites of Korean companies to encourage our workers, listen to the difficulties of companies through meetings with local companies, and seek solutions together.
Meanwhile, Minister Won will hold the “Korea-Saudi Innovation Road Show” jointly with the Ministry of Transport and Logistics of Saudi Arabia to actively publicize the technological prowess of Korean companies and provide a venue for cooperation to promote exchanges and strengthen networks between companies of the two countries.
* (日時所) '22.11.6 (Sun) 10:22 am (local time) / Riyadh Crowne Plaza RDC Hotel (our side attended) Ministry of Land, Infrastructure, and Transport, Overseas Infrastructure and Urban Development Corporation, Korea Trade-Investment Promotion Agency Private Companies (11 companies): 2 construction companies (Samsung C&T, Kolon Global, etc.), 3 mobility companies (Morai, Thor Drive), 4 smart city companies (Sesame Lab, Angel Swing, Potenit), 2 IT companies (KT, Naver, Naver Labs, etc.), XNUMX smart farm companies (XNUMXMeet, Nthing)
(Participation from Saudi Arabia) Personnel from the Ministry of Transport and Logistics and major clients, etc.
At the roadshow, we plan to introduce OneTeam Korea to Saudi Arabia by inviting key government and client personnel such as the Ministry of Transport and Logistics of Saudi Arabia. After the opening ceremony, technology presentations by Korean companies in each field such as construction, mobility, smart city, IT, and smart farm will be held, and 1:1 consultations will be held between Korean companies and the Saudi government and personnel from the client.
Lastly, Minister Won plans to visit Neom City for the first time in the government and hold a meeting with the CEO of NEOM to discuss ways for Korean companies to participate in the NEOM project and cooperate, and to actively express the government's willingness to cooperate.
Currently, Korean companies are participating in the tunnel project of 'The Line', Neom's first project, as a PMO (Project Management Office). We plan to request cooperation from Korean companies to participate in major projects such as the Gon Port and share information on future projects.
Minister of Land, Infrastructure, and Transport Won Hee-ryong emphasized, “This visit will be an important momentum to further strengthen trust and cooperation between the two countries in the field of construction infrastructure.” We will not spare any support so that the second Middle East boom can be realized by utilizing the excellent technologies of leading Korean companies in major projects such as Neom, Qidiya, and Red Sea.”