Tags

View all tags here

Korea

Korea will be able to provide key know-how to help Saudi Arabia elevate its profile via the NEOM project, underpinned by trust in the Asian country's capabilities in city planning and infrastructure construction in the Middle Eastern nation dating back to the 1970s, according to Korea's top land, infrastructure and transport policymaker.

Since 1965, Saudi Arabia has inked an overseas construction order totaling $156 billion, accounting for 17 percent of Korea's overseas construction order total. It helped Korea cement its standing as the fifth-largest global construction market player with a reported overseas construction order total of $927 billion over the past five decades as of Dec. 21. Korea's second-largest income from overseas construction, totaling $83.1 billion, comes from the United Arab Emirates (UAE). 

 

"We feel very fortunate to have collaborated with Korean companies on several leading-edge infrastructure projects over the past 50 years, which have strengthened both our nations." -  Nadhmi Al-Nasr, CEO of NEOM 

 

Related Articles

South Korean builders nervous about possible setbacks in Middle East 21 May 2024
Update on Korean and NEOM construction projects - new orders expected 05 April 2024
Korean firm Hyundai Motor Group will help Red Sea Global to create an eco-friendly future mobility ecosystem. 25 March 2024
Korea developing deeper links with Saudi Arabia and NEOM with big project wins 22 March 2024
Korea urged to prioritize hydrogen, smart cities for NEOM development 14 March 2024
'Saudi Vision 2030 offers ample investment opportunities for Korean firms' 13 March 2024
Korean Construction Hits Jackpot Consecutively in Saudi Arabia, UAE 01 January 2024
Korean firm HD Hyundai wins $72 million power equipment order for Diriyah, Saudi project 28 November 2023
Middle East, NEOM land of opportunity for Korean startups 23 November 2023
KT, Hyundai, and STC sign MoU for digital infrastructure in Saudi Arabia 16 November 2023
Korea and NEOM ink 51 deals worth over $15bn 24 October 2023
NEOM Media Hub Teams With Korean Film Council on Content Creators Training Program 18 October 2023
17 Korean SMEs confirmed to join $7.52bn Saudi-Korean Industrial Village project 20 September 2023
Korea plans high-level visit to NEOM to secure more business 15 September 2023
HD Hyundai Electric wins $51 mn deal to power NEOM megacity 11 September 2023
Hyundai Elevator seeks to join NEOM project through Chinese subsidiary 14 August 2023
NEOM Project Expected to Place Orders with Korean Construction Equipment Makers 03 August 2023
Korean Firm Hyundai E&C Secures Contract for Saudi HVDC Power Transmission Line 03 August 2023
NEOM CEO Nadhmi Al-Nasr announces major project updates 31 July 2023
NEOM Company CEO Meets with Korean Construction Minister - "Korean Builders First" 31 July 2023
Korea to Open Liaison Office in Saudi Arabia to Better Participate in NEOM Project 31 July 2023
Seoul Exhibition to Showcase Future of Saudi’s NEOM Project 13 June 2023
Korea, Saudi Arabia sign MOUs for mobility, road projects 15 May 2023
Global Business Forum discusses Korean opportunities in Saudi Arabia 04 May 2023
South Korea plans to collaborate with Saudi Arabia on further NEOM projects 01 May 2023