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