Cooperation between Samsung and Saudi Arabia Expected to Speed up
Samsung Electronics vice chairman Lee Jae-yong met with Crown Prince of Saudi Arabia Mohammad Bin Salman bin Abdulaziz Al Saud and Saudi Arabian government officials in Riyadh on Sept. 17. They discussed cooperation between Saudi Arabia and Samsung Group in a wide range of fields including technology, energy, smart city and construction.
The meeting was attended by officials from the Saudi Arabian government.
The vice chairman of Samsung Electronics flew to Samsung C&T’s construction site in Saudi Arabia on Sept. 15 and is currently staying in the country.
Business cooperation between Saudi Arabia and Samsung Group is expected to speed up based on the vice chairman’s visit and his previous meeting with the crown prince in late June this year. At that time, the crown prince met with the heads of Samsung, LG, Lotte, SK and Hyundai Motor Groups in Samsung Group’s reception hall in Seoul and asked for their investment in his country. The meeting was requested by the crown prince and the vice chairman of Samsung Electronics invited the other four after accepting the request.
Much attention is being paid to the fact that the vice chairman’s on-site visits are covering Samsung Group’s non-electronics subsidiaries as well as Samsung Electronics. He visited multiple subsidiaries and research institutes immediately after the Japanese government began to restrict the export of semiconductor and display materials to South Korea.