Yoon, Saudi leader pledge cooperation in joint statement

Diplomacy

Published: 24 Oct. 2023, 17:50

Yoon, Saudi leader pledge cooperation in joint statement

President Yoon Suk Yeol walks alongside Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud during the official welcoming ceremony held at Al Yamamah Palace in Riyadh on Sunday. [JOINT PRESS CORPS]

Korea and Saudi Arabia pledged to deepen their cooperation across energy, manufacturing, construction and defense sectors as President Yoon Suk Yeol's visit to Riyadh came to a close on Monday.

Yoon and Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud concluded their talks with an expansive joint statement that included promises of cooperation in major Saudi projects, such as the NEOM mega-city.

Their joint statement further noted that the two sides will deepen their collaboration on various Vision 2030 Saudi infrastructure and tourism developments that are aimed at diversifying the kingdom’s economy away from reliance on oil exports.

The two countries also pledged to “expand their cooperation in the manufacturing sector” and “enhance cooperation in the fields of advanced industries,” and the Saudi government expressed “welcome and encouragement” for major Korean companies to invest and establish regional headquarters in the Middle Eastern country.

The bilateral statement also expressed Seoul and Riyadh’s “determination to enhance cooperation and coordination in the fields of defense and defense industry in a way that serves the common interests of the two countries and contributes to achieving security and peace in the region and the world.”

While the Korean presidential office declined to provide detailed information regarding defense industry discussions that took place during Yoon’s visit, National Security Office (NSO) Deputy Director Kim Tae-hyo hinted that talks regarding the sale of Korean air defense and artillery systems to Saudi Arabia had entered the final stage and that arms packages currently being negotiated are expected to be “substantial.”

President Yoon Suk Yeol holds hands with Saudi Minister of National Guard Abdullah bin Bandar Al Saud, left, and Saudi Minister of Defense Khalid bin Salman Al Saud, right, for a commemorative photo in Riyadh on Monday. [JOINT PRESS CORPS]

The NSO deputy director also said that the two countries are engaged in talks with an eye on establishing long-term cooperation in the defense industry.

Kim cited Saudi concerns over weapons intelligence leaks as the main reason for not providing more information regarding the two countries’ ongoing weapons talks.

Korean-Saudi defense industry cooperation has risen in recent years, though past deals have also not been fully disclosed.

Saudi Arabia is known to have signed contracts with three Korean defense companies collectively worth 3.71 billion Saudi riyal ($989 million) in March 2022.

The contracts with Hanwha Aerospace, LIG-Nex1 and Poongsan were three out of 10 deals that the Saudi government signed with local and international companies at the World Defense Show (WDS) 2022 in Riyadh.

Yoon’s visit to Riyadh took place amid heightened turmoil in the Middle East following an armed incursion by the Palestinian militant group Hamas into Israel on Oct. 7 that resulted in 1,400 deaths and the abduction of over 200 hostages.

Israel’s retaliatory bombardment of the Gaza Strip, the coastal enclave ruled by Hamas, ahead of a tentative ground invasion aimed at eliminating the group has since killed over 5,000 people, according to Gaza's health officials.

The spiraling violence in Gaza and the West Bank has threatened to draw in other regional powers, including Iran and the armed Hezbollah group in Lebanon, and derail prospects for diplomatic normalization between Israel and Saudi Arabia, a longtime backer of statehood for Palestinian Arabs.

In their joint statement, Korea and Saudi Arabia rejected “targeting civilians in any way” and emphasized the importance of “protecting civilians in accordance with international law and international humanitarian law.”

They also agreed to work with the international community “for the rapid and unimpeded delivery of humanitarian assistance to suffering civilians” and “stressed the importance of intensifying efforts to prevent the conflict from spreading and the need for a political solution and durable peace” grounded in a “two-state solution” for the Israeli-Palestinian conflict.

In a reflection of mounting energy security concerns over the conflict, the Korean and Saudi joint statement emphasized maintaining the stability of global oil markets.

In the statement, Korea “expressed its appreciation for Saudi Arabia’s role as Korea’s largest crude oil supplier,” while Saudi Arabia stressed it will “continue to be the most reliable partner and exporter of crude oil supplies” to meet Korea’s oil needs.

The Korea National Oil Corporation and Saudi Aramco signed a joint crude oil storage project contract during Yoon’s visit, which the statement said would “further strengthen the strategic cooperation in the energy sector between the two countries.”

BY MICHAEL LEE [lee.junhyuk@joongang.co.kr]