S. Korea’s Yoon Visits Saudi Arabia, Qatar

South Korean President Yoon Suk Yeol is set to embark on a five-day trip to Saudi Arabia and Qatar with the aim of strengthening economic and security ties, as well as exploring new areas of cooperation beyond energy and construction.

During his visit, President Yoon will participate in a state visit to Riyadh, where he will hold a summit with Saudi Crown Prince Mohammed bin Salman Al Saud. This meeting follows the crown prince's visit to Seoul last year, which resulted in the signing of numerous agreements worth approximately $29 billion between businesses in the two countries. President Yoon will then proceed to Doha, Qatar, for a state visit and summit with Qatari Emir Sheikh Tamim bin Hamad Al Thani.

This trip marks the first state visit by a South Korean president to both Saudi Arabia and Qatar. The significance of these visits lies in the fact that Saudi Arabia and Qatar are important trading partners for South Korea in the Middle East, and they play crucial roles in regional politics and the economy.

Enhancing cooperation with these nations is vital to South Korea's economy and national security. The trip aims to strengthen the existing cooperative relationships with Saudi Arabia and Qatar while exploring new avenues of collaboration. The partnership between South Korea and the Middle East will expand beyond traditional sectors like energy and construction to include areas such as hydrogen, IT, automobiles, shipbuilding, renewable energy, culture, entertainment, and other future industries.

President Yoon's itinerary includes attending investment forums, delivering a lecture at King Saud University, participating in a technology forum, and commemorating 50 years of construction cooperation between South Korea and Saudi Arabia.

In Qatar, he will visit the International Horticultural Exposition, attend a business forum, and engage with young Qatari leaders at Education City.

Saudi Arabia and Qatar account for a significant portion of South Korea's crude oil and gas imports. Given the growing uncertainty and volatility in global oil prices caused by conflicts in Ukraine and Israel, President Yoon plans to discuss measures to stabilize oil and gas supplies during his summit meetings.

Accompanying the president on the trip will be large business delegations consisting of prominent leaders from South Korean conglomerates. The visit aims to expand cooperation beyond energy and construction to investment, defense, agriculture, culture, and people-to-people exchanges.

President Yoon's visit to Saudi Arabia and Qatar underscores South Korea's commitment to strengthening ties with key Middle Eastern countries and diversifying its cooperation beyond traditional sectors.