Industry Minister meets with several Korean companies

Part of the visit

Bandar Alkhorayef, Minister of Industry and Mineral Resources, concluded several bilateral meetings with executives of Korean companies operating in the industrial sector. He also visited multiple factories in the Korean cities of Ulsan and Changwon.

As reported by the Saudi Press Agency (SPA), Alkhorayef met with Hyundai Heavy Industries Co.’s executives, and visited the company’s factory in Ulsan. He inspected the plant’s most prominent findings in shipbuilding, industrial and engineering facilities, as well as engines and machinery.

Moreover, the minister discussed opportunities for cooperation in the field of marine industries, given the Kingdom’s abundance of minerals used in marine industries, and a copper foundry and smelting plant in Al Khobar’s industrial city.

In addition, the exchange of experiences between Hyundai and King Salman Global Maritime Industries Complex was set forth for discussion.

The minister also met with executives of leading carmaker Hyundai Motor Co. to discuss ways of implementing the joint project agreement between the latter and the Public Investment Fund (PIF), aimed at establishing a highly automated factory for manufacturing cars in the Kingdom.

During his visit, Alkhorayef met with executives from global auto-parts manufacturer CTR (Central Corporation) at the company's headquarters in Changwon. This is in addition to meeting with executives from Shinyoung Co., a Korean manufacturer of auto spare parts and accessories.

The minister’s meetings came within the framework of his official visit to the Republic of Korea, with an aim to enhance cooperation and partnership in the industrial and mining sectors, while also expanding strategic bilateral collaboration.