The Saudi Arabian General Investment Authority (SAGIA) has signed 15 memorandums of understanding (MoUs) with South Korean investors, the Saudi Press Agency reported on Wednesday.
The signing took place during an investment promotion convention held in Seoul today.
No further information was mentioned about deal values.
In addition, two new licenses were awarded to South Korean firms that will launch operations in the Kingdom.
Read: Saudi Arabia, South Korea seek to assess bilateral ties
The deals have targeted various strategic sectors including finance, media, manufacturing, construction and petrochemicals and were concluded with leading firms, such as Korea National Enterprise for Clinical Trials, Seoul National University Hospital, Industrial Bank of Korea and Samsung Bioepis.
Other preliminary agreements were inked with SK Global Chemical, Korea Research Institute of Standards and Science, and PK Valve Co.
Saudi Arabia has also unveiled a plan to open a vision realization office in the Korean capital by the end of Q1 2020 to maintain close ties with organizations from both countries.
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