MBS signs deals in Seoul, agrees to develop 'strategic partnership'

By Al Mayadeen English
Source: Agencies
17 Nov 2022 12:58

Saudi Crown Prince meets with the South Korean President in Seoul who both agree to elevate relations and cooperation, especially in defense and energy.

Saudi Arabian Crown Prince accompanied by South Korean PM Han Duck-soo during the former's visit on November 17, 2022.

Seoul and Riyadh signed a number of deals across different sectors, including energy and defense, as the two countries aim to develop relations into a "strategic partnership".

Saudi Arabia's Crown Prince Mohammed Bin Salman (MBS), who is going on a multi-stop tour in Asia, visited the capital of South Korea on Thursday, after attending the G20 summit in Indonesia, and met with the country's President Yoon Suk-yeol.

According to Yoon's office, the two leaders agreed to carry the country's ties toward a "future-oriented strategic partnership," while the Crown Prince "especially expressed his wish for a significant increase in cooperation in energy, defense and construction industries."

The visit resulted in around 20 deals signed by both governments ranging related to several fields and sectors.

President Yoon expressed his desire to see South Korean companies take part in Saudi key projects and increase cooperation in the energy and defense fields.

During the visit, the Saudi government signed an agreement to invest $6.7 billion in South Korea's S-OIL's Shaheen project to build a petrochemical facility that would rank as one of the world's largest.