Yoon to Hold Talks and Luncheon Today with Crown Prince and Prime Minister Bin Salman of Saudi Arabia

Discussion Expected on Saudi Arabia's Mega New City 'NEOM City' with 670 Trillion Won Budget
Afternoon Summit with Dutch Prime Minister to Discuss Semiconductors, Electric Vehicles, and Renewable Energy

Mohammed bin Salman, Crown Prince of Saudi Arabia.

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol will meet with Mohammed bin Salman, Crown Prince and Prime Minister of Saudi Arabia, on the 17th.

The Presidential Office spokesperson announced on the morning of the 17th, "President Yoon will hold talks and a luncheon with Crown Prince and Prime Minister bin Salman, who is on an official visit to Korea."

Crown Prince bin Salman is the de facto ruler of Saudi Arabia and is known as "Mr. Everything," a nickname meaning he can do anything, as he is considered the unofficial richest person in the world. Bin Salman arrived at Seongnam Seoul Airport around 12:30 AM on the day via a private jet.

Between President Yoon and Crown Prince bin Salman, discussions are expected to focus on bilateral cooperation in areas such as urban infrastructure development including Saudi Arabia's "NEOM City," nuclear power, and defense industries.

A senior official from the Presidential Office told reporters the day before, "It seems the format will be a free and candid conversation."

NEOM City is a mega new city project and a national long-term project (Saudi Vision 2030) announced by Crown Prince bin Salman in 2017 to shift away from an oil-centered economic structure.

As a mega new city project covering land 44 times the size of Seoul and involving a project cost of 500 billion dollars (approximately 670 trillion won), it is known that President Yoon is paying close attention to contract achievements.

In the afternoon of the same day, President Yoon will hold a summit meeting with Mark Rutte, Prime Minister of the Netherlands, who is on an official visit to Korea, at the Yongsan Presidential Office.

The two leaders plan to focus on discussing bilateral cooperation in future industries such as semiconductors, electric vehicles, and renewable energy.

Following the summit, a joint press conference and dinner will also be held. Before the summit, the two leaders plan to have a casual meeting with semiconductor company executives.