In Saudi Arabia, Moon Calls for 'Hydrogen Cooperation'... Meeting with Crown Prince and Reception by Sovereign Wealth Fund Chairman

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] As part of his tour of the Middle East, President Moon Jae-in, currently visiting Saudi Arabia, met with Crown Prince Mohammed bin Salman and others on the 18th (local time) to discuss expanding eco-friendly cooperation in hydrogen energy, smart cities, and more.

During the meeting with Crown Prince Mohammed held at Riyadh’s Yamama Palace, President Moon stated, "The two countries have been cooperating in five major areas: energy, smart infrastructure, digital, healthcare, and small and medium enterprises. I hope that future cooperation in hydrogen energy, nuclear power and defense, intellectual property, and medical fields will be further strengthened."

President Moon also requested attention to allow Korean companies to participate in the carbon-zero environmental city ‘NEOM City’ construction project and emphasized cooperation in the hydrogen sector. He said, "By combining Saudi Arabia’s abundant hydrogen production capacity with Korea’s advanced hydrogen utilization capabilities, the two countries can lead the hydrogen economy, a key energy source in the carbon-neutral era."

After the summit, President Moon met with Yasir Othman Al-Rumayyan, chairman of Saudi Aramco?the world’s largest energy company?and governor of the Saudi Public Investment Fund, where he also urged cooperation in the hydrogen sector. President Moon said, "Until now, the two countries have cooperated mainly in energy such as crude oil, but I hope that cooperation in the hydrogen sector will be strengthened going forward." The Blue House explained that the Saudi Public Investment Fund is the world’s ninth-largest sovereign wealth fund, and Chairman Al-Rumayyan plays a key role in Saudi Arabia’s economy. Attendees at the meeting included Moon Seung-wook, Minister of Trade, Industry and Energy; Lee Ho-seung, Chief of the Presidential Office for Policy; Gong Young-woon, President of Hyundai Motor Company; Choi Chang-won, Vice Chairman of SK Discovery; and Oh Se-chul, President of Samsung C&T Corporation.

President Moon then delivered a speech at the ‘Korea-Saudi Smart Innovation Growth Forum’ held at the Ritz-Carlton in Riyadh, attended by political and business figures from both countries, proposing future cooperation in three areas: ▲hydrogen cooperation ▲smart city cooperation ▲healthcare and digital cooperation.

President Moon concluded his schedule in Saudi Arabia with a meeting with Nayef Al-Hajraf, Secretary-General of the Gulf Cooperation Council (GCC), and a visit to the Riyadh Metro construction site, before departing for Egypt, the final country on his tour.