2nd Korea-Saudi Mobility and Innovation Roadshow
Won Hee-ryong "Supporting Saudi Mega Project Contracts"
'Neom City' Exhibition in Seoul in July...Inter-Ministerial Cooperation
Saudi Arabia announced that it is opening the door wide to investment opportunities in land transportation, maritime, and logistics sectors. Aiming at the national transportation and logistics strategy announced two years ago, it plans to prioritize related projects worth a total of 12 trillion won.
Minister of Land, Infrastructure and Transport Won Hee-ryong (right) and Saudi Arabia Minister of Transport and Logistics Saleh bin Nasser Al-Jasser are being interviewed by reporters after the "2nd Korea-Saudi Mobility and Innovation Roadshow" at the Four Seasons Hotel in Seoul on the 9th. / Photo by Noh Kyung-jo
Saleh bin Nasser Al-Jasser, Saudi Minister of Transport and Logistics, met with reporters on the 9th at the Four Seasons Hotel in Seoul after the '2nd Korea-Saudi Mobility and Innovation Roadshow' and said, "(Saudi Arabia) has many more opportunities, and the smart city and mobility solutions introduced by Korean companies align well with our goals, so cooperation will be smooth."
The Saudi national transportation and logistics strategy focuses on expanding more than 250 air routes and extending railways to transport 3 million passengers and 50 million tons of cargo annually. The share of transportation and logistics in the Gross Domestic Product (GDP) will also increase to 10%.
At the roadshow, the Saudi delegation announced plans to order aviation projects worth $3.6 billion, including the construction of Ha'il International Airport. They also introduced projects such as the $3.33 billion Aseer-Jisan highway project. In particular, they plan to increase the share of public transportation and taxis in land transportation from just 10% to 75%.
Minister Al-Jasser said, "The projects introduced at the roadshow are only a small part," adding, "Based on the close relationship between the two countries and our experience in carrying out projects so far, we expect to gain more opportunities."
On the same day, eight Korean companies showcased their technological capabilities in Saudi Arabia. Hyundai Motor Group emphasized that as a 'smart mobility solution provider,' it can demonstrate comprehensive capabilities in smart cities as well. Socar focused on 'vehicle supply-demand optimization' through information aggregation. Hanwha introduced urban air mobility (UAM) called 'Butterfly.' In addition, Naver Cloud (digital twin, autonomous driving), Hyundai Elevator (vertiport infrastructure), Hyundai Construction (urban infrastructure changes brought by future mobility), and Samsung C&T (smart city solutions) gave presentations. Samsung C&T mentioned the organic relationship between humans and nature and urban revitalization.
The Ministry of Land, Infrastructure and Transport plans to share major projects that Saudi Arabia is expected to order with the industry to solidify the foundation for winning contracts. Minister Won Hee-ryong said, "Korea and Saudi Arabia are expanding cooperation areas not only in traditional energy and construction infrastructure but also in smart cities, information technology (IT), and mobility," adding, "We will actively support our companies, from large corporations to startups with innovative technologies, to win Saudi Arabia’s mega projects."
Meanwhile, this roadshow was the second event following the one held in Saudi Arabia last November. In July, an exhibition introducing Saudi Arabia’s 'NEOM City' vision is scheduled to be held in Seoul. Minister Won expressed hope that this exhibition will serve as an opportunity for cooperation among various ministries of the two countries.
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