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Won Hee-ryong, minister of land, infrastructure and transport, gives a speech during an event held in Seoul on Nov.1. [MINISTRY OF LAND, INFRASTRUCTURE AND TRANSPORT}
Minister of Land, Infrastructure and Transport Won Hee-ryong is leaving Friday for Saudi Arabia to make a sales pitch for Korean companies seeking to participate in the $500 billion NEOM city development.
The Korean Land Ministry is the first Korea ministry to visit the site of the massive project.
Won will travel to Riyadh and stay in the country for four days, joined by 22 companies including 11 Korean construction companies.
Representatives of Hyundai E&C, Samsung C&T, Naver and KT and from smart city and mobility companies are joining the delegation.
During his trip, Won will be holding meetings with top government officials at Saudi Arabia’s energy minister, the head of the country’s sovereign wealth fund and investment, tourism and housing ministers.
On Sunday, the Korean government and companies will be attending a Korea-Saudi Innovation Roadshow being organized with Saudi’s Ministry of Transport and Logistics Services.
The Korean minister will also be meeting with the top executives of Saudi development companies, including Al Akaria, Roshn, Red Sea and Qiddiya.
NEOM is one of the three major development projects in the country’s 2030 vision pushed by Crown Prince Mohammed bin Salman.
The 26,500-square-kilometer city will be built in a desert area in Tabuk Province. It will be designed to run entirely on renewable energy and utilize state-of-the-art technologies, including robotics, autonomous vehicles and flying taxis.
A Hyundai Engineering & Construction and Samsung C&T consortium is building a railway tunnel at NEOM City.
“This visit will bring momentum and further raise the trust and cooperation between the two countries in construction and infrastructure,” Won said.
Saudi Arabia has a long history with Korean construction companies, which have been working in the country since 1973. The two countries established diplomatic relations in 1962.
BY LEE HO-JEONG [[email protected]]
