Ministry of Trade Industry and Resources

The 2026 Saudi-Korea Business & Investment Forum, sponsored by the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), was held in Seoul on October 6, 2026. The forum brought together around 250 business leaders from the two countries to discuss deepening cooperation in infrastructure and energy, as well as expanding cooperation in advanced industries such as electric vehicles (EVs), artificial intelligence (AI), healthcare and defense.

Saudi Arabia is Korea’s largest crude oil supplier and a key economic partner in the Middle East. The forum was held to strengthen the bilateral partnership as Saudi Arabia pursues industrial upgrading and economic diversification under its Vision 2030 national strategy. The forum centered on four areas: advanced industries; telecommunications, media and healthcare; utilities, resources and logistics; and special zone development and construction. Participating companies presented investment proposals and held one-on-one business meetings to explore and discuss practical ways for companies to cooperate.

About 20 major Saudi companies attended, including Ceer, Saudi Arabia’s first EV manufacturer; Saudi Telecom Company (STC), the country’s largest telecommunications provider; and Saudi Arabian Military Industries (SAMI), the state-owned defense company. About 90 Korean companies already working with Saudi partners or exploring new opportunities for cooperation also participated and engaged in active discussions.

In his congratulatory remarks, Minister for Trade Park Jung-sung said, “The solid trust Korea and Saudi Arabia have built will be the surest way to turn crises into opportunities amid complex challenges posed by geopolitical tensions, the AI revolution and protectionism. We will use the AI transformation as an opportunity to accelerate cooperation in advanced industries, while strengthening the institutional foundation for broader trade and investment between companies in the two countries, including by working toward the swift entry into force of the Korea–GCC FTA.”