South Korea in the race to win contracts for Neom development
A high level South Korean
delegation is to arrive in Saudi Arabia to participate in a $500 billion Neom
city development project in the kingdom
The delegation led by Minister
of Land, Infrastructure and Transport Won Hee-ryong and comprising
representatives from government and corporate sector is scheduled to visit the Kingdom
from November 4 to 9.
Neom is a city the Saudi
government is building in Tabuk Province, northwest of the nation. The planned
city of 26,500 square kilometers will incorporate smart city technologies,
including robotics and flying taxis, and function as a tourist destination.
The mega-project worth $500 billion will require four or five
contracts in phases, and the Korean government is in full swing to pitch for
Korean firms to win their target deals. Team Korea comprises public agencies
and 22 corporations, including Hyundai E&C, Samsung C&T, and Naver.
During his trip, Minister Won will meet with Saudi government
officials to discuss plans for cooperation, including his meeting with the
Minister of Transport and Logistics Services to sign a deal for future mobility
cooperation. The Korean government will hold a Korea-Saudi Innovation Roadshow
in cooperation with Saudi’s transport ministry.
Source: pulsenews.co.kr
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