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Saudi business delegation inks 15 Memoranda of Understanding across a broad range of strategic sectors in the Republic of Korea 2 Seoul

Agreements exchanged at the Convention include:

The National Command Center for Clinical Trials agreement between Korea National Enterprise for Clinical Trials, Seoul National University Hospital, and the Ministry of National Guard Health Affairs /King Abdullah International Medical Research Center,

An Artificial Intelligence for Healthcare agreement between Seoul National University Bundang Hospital, and the Ministry of National Guard Health Affairs /King Abdullah International Medical Research Center,

A Research & Development and Manufacturing of Biosimilars agreement between Samsung Bioepis and the Ministry of National Guard Health Affairs /King Abdullah International Medical Research Center,

A Genomics and Precision Medicine for Diagnosis and Therapeutics agreement between GENINUS, Inc and the Ministry of National Guard Health Affairs /King Abdullah International Medical Research Center,

A Technical Cooperation for SME Banking agreement between the Industrial Bank of Korea and Saudi Arabia's SMEA,

An agreement to conduct a Feasibility Study of Additional MPE Plants using Nexlene Technology between SK Global Chemical and Saudi Arabia's SABIC,

A PDH-PP Project agreement between SK Gas Co, Ltd and SABIC,

A PP Compounding Project between SK Gas Co, Ltd and Advanced Global Investment Company,

A Mixed Feed Cracker Study between SK Gas Co, Ltd and Advanced Global Investment Company,

A Cooperation Agreement in the Field of Recycling between BLOOMX and Avin Riyadh Trading Establishment,

A Cooperation Agreement in the Field of Money Transfer between BLOOMX and Avin Riyadh Trading Establishment,

A Cooperation Agreement in the Solar Energy Sector between BLOOMX and Avin Riyadh Trading Establishment,

A Media Cooperation Agreement between MINORITY and MAG Production,

A Partnership to Manufacture Industrial Values between PK Valve Co, Ltd and Saudi Valve Manufacturing Company,

A Technical Cooperation Agreement between the Saudi Standards, Metrology and Quality Organization and the Korea Research Institute of Standards and Science.

Since 2016, the Saudi Arabian government has delivered 45% of over 500 planned reforms, including the introduction of 100% foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders. As a result, Saudi Arabia is climbing international competitiveness and ease-of-doing-business rankings and investors are increasingly towards to the Kingdom, with FDI inflows increasing by 127% in 2018 and the number of new companies entering Saudi Arabia rose 70% on a year-on-year basis in Q1 2019.

Source: Saudi Press Agency

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