President Yoon's State Visit to Saudi Arabia: Dinner with Accompanying Businesspeople
"Government and Companies Are One Team... We Will Expand the Playground for Unlimited Growth"
During his state visit to Saudi Arabia, President Yoon Suk-yeol met with the Korean economic delegation on the 23rd (local time) and stated, "If there are any difficulties or unreasonable issues, please let us know anytime," adding, "If it helps our companies' exports and orders, we will run and run again." This remark reflects the government's commitment to sparing no support for strengthening companies' overseas expansion and competitiveness in export markets, following Team Korea's achievement of over $15.6 billion (21 trillion KRW) in export sales during President Yoon's state visit.
That evening, President Yoon held a dinner with business leaders accompanying the state visit at the Riyadh Marriott Hotel in Saudi Arabia, emphasizing the government's support by saying, "Supporting companies to grow and pioneer markets is the core of economic policy." This event was arranged for President Yoon to encourage the economic delegation and directly check on any difficulties during discussions with Saudi partners.
President Yoon Suk-yeol, on a state visit to Saudi Arabia, is delivering an encouragement speech at the Companion Business Dinner held at the Marriott Hotel in Riyadh on the 23rd (local time). Photo by Yonhap News
In his encouragement speech, President Yoon expressed gratitude to the accompanying businesspeople, saying, "Meeting all of you who are striving to pioneer new markets despite difficult conditions makes me determined to work even harder as a salesperson."
He particularly highlighted Team Korea's achievement of over $15.6 billion in export orders and MOU (Memorandum of Understanding) and contract performances during this visit, stating, "Amid the global energy crisis, we reaffirmed strong energy security cooperation with Saudi Arabia, our largest crude oil supplier, through joint crude oil stockpiling projects and blue ammonia production contracts. I believe this will serve as a precious catalyst to inject new vitality into our economy."
He added, "Saudi Arabia is preparing for the post-oil era with ambitious plans such as Vision 2030 and the construction of Neom City," and said, "Our companies' large-scale participation is necessary, desired, and I believe it must be done." He further explained, "As a key partner in Vision 2030, we are expanding the horizon of cooperation beyond existing energy infrastructure to future promising industries and cultures such as electric vehicles, digital, AI, smartphones, healthcare, and cultural contents."
To the businesspeople, he reiterated the government's support by saying, "The government and companies are one team." President Yoon promised, "The government will also make every effort to broaden the playing field so that our companies can achieve greater results, pioneer markets, and run freely."
Meanwhile, the dinner was attended by Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, Hanwha Vice Chairman Kim Dong-kwan, Doosan Enerbility Chairman Park Ji-won, Ryu Jin, Chairman of the Korea Economic Association (Pungsan Group), GS Chairman Huh Tae-soo, Ssangyong Construction Chairman Kim Seok-jun, KT CEO Kim Young-seop, HD Hyundai Oilbank President Joo Young-min, among others. From the government side, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Foreign Minister Park Jin, Minister of Trade, Industry and Energy Moon Sung-wook, Minister of Land, Infrastructure and Transport Won Hee-ryong, Ambassador to Saudi Arabia Park Jun-yong, Defense Acquisition Program Administration Chief Eom Dong-hwan, and Director General for Asia and Middle East Affairs at the Ministry of Foreign Affairs Kim Eun-jung attended together.
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