Seoul, Minister of Finance, Mohammed bin Abdullah Al-Jadaan, held a meeting on Wednesday, 08 March 2023, in the Korean capital, Seoul, with the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea, Choo Kyung-ho.
During the meeting, the two parties reviewed the bilateral economic relations between the two countries. They discussed the developments of the global economy, including the ongoing challenges faced by many low-income countries, such as high inflation rates, rising lending costs, and food insecurity.
Topics related to international financial issues were also discussed, as the importance of stepping up the efforts to accelerate the “Common Framework” initiative, launched during the Kingdom’s G20 Presidency in 2020.
Al-Jadaan also participated in roundtable discussions organized by the National Center for Privatization with a number of investors and CEOs of Korean companies in the presence of the Korean Minister of Land, Infrastructure and Transport, Won Hee-ryong. Al-Jadaan highlighted the progress made under Vision 2030 to implement economic reforms and wide-ranging partnership projects between the public and private sectors.
He explained the vast opportunities in the Kingdom’s privatization and partnership projects in different sectors, including construction, roads, water, airports, and others.
Al-Jadaan also met with the Chairman and President of the Export-Import Bank of Korea, Hee-Sung Yoon. They discussed the opportunities to enhance cooperation in common fields in a way that contributes to raising the level of investment and trade between the two countries.
Al-Jadaan also provided an overview of the recent economic developments in the Kingdom of Saudi Arabia, highlighting the positive outlook of the Saudi economy and favourable investment opportunities.
Source: Saudi Press Agency