Koreans believe that ancient Korea was first founded on Oct. 3, 2333 BC. On this happy occasion, I would like to share the joy of the Korean people with the citizens of the Kingdom of Saudi Arabia.

I would also like to take this opportunity to express my sincere appreciation to the leadership of the Kingdom of Saudi Arabia — Custodian of the Two Holy Mosques King Abdullah, Crown Prince Sultan, deputy premier and minister of defense and aviation, and Prince Naif, second deputy premier and minister of interior — for their continuing support in strengthening the friendship that exists between our two countries. I also extend my sincere greetings to the government and people of the Kingdom.

Since the establishment of diplomatic relations between the Kingdom of Saudi Arabia and the Republic of Korea in 1962, the ties of friendship and cooperation have strengthened continuously year after year. In particular, the mutual visits of high-level officials from both countries laid the foundation for the strong relations. The then crown prince, King Abdullah, visited Korea in 1998 and many other members of the royal family too visited Korea several times. There have also been many visits by different ministers and senior officials of the Saudi government on different occasions. Shoura Council President Sheikh Abdullah Al Asheikh came to Korea in May to attend the “G20 Seoul Speakers Consultation 2011.”

From the Korean side, the president of the country visited the Kingdom in March 2007. Many Korean prime ministers, ministers and senior officials visited the Kingdom and held meetings with their counterparts, which, I believe, contributed tremendously to further deepening the good relations that already exist between our two countries.

During the period of the economic boom in Saudi Arabia, in the 1970s and 1980s, hundreds of thousands of Korean construction workers exerted great efforts with Saudi nationals to build various infrastructure of the Kingdom. Most recently, I am delighted to witness the return of many Korean companies to Saudi Arabia. At present, there are more than 100 companies engaged in the implementation of more technology-intensive and value-added projects such as petrochemical plants, desalination, power generation, information technology and communication. The recent conclusion of Memorandums of Understanding (MoUs) in various fields between the governments of the two countries have played important roles in facilitating the participation of Korean firms in Saudi projects.

With regard to trade relations, Saudi Arabia is Korea’s fourth largest trading partner. The bilateral trade volume has leapt from $4.2 billion in 1991 to $31.5 billion in 2010 with $22 billion of the trade balance in favor of Saudi Arabia. The Kingdom is also Korea’s largest oil supplier, providing Korea with one third of its total oil imports. Korean exports to the Kingdom in 2010 reached $4.6 billion, primarily consisting of automobiles, ships, iron & steel products, electronics and machinery products. The yearly average of Saudi imports of Korean vehicles has reached almost $1.5 billion. In particular, the advancement in Korea’s science and technology is well reflected through the number of high-quality products such as automobiles, electronics and communication equipment in the Saudi retail markets.

Under President Lee Myung-bak’s administration, many deregulatory reform measures have been introduced in Korea which have encouraged the steady increase of Saudi investment in Korea in areas such as real estate, petrochemicals and refinery. Given the fact that numerous Korean companies have established their entities in the Kingdom over the past few years, I expect Korean investment in the Kingdom to increase dramatically in the near future.

Cooperation in the field of education is constantly being strengthened. Korea particularly appreciates and supports the vision and policies of the leadership of the Kingdom that emphasizes the development of human resources and the establishment of a knowledge-based society. Through Custodian of the Two Holy Mosques Scholarship Program, pioneered by the Ministry of Higher Education and the Technical and Vocational Training Corporation, approximately 200 Saudi students are currently studying in different universities in Korea. I hope that the mutual visits of high-ranking government officials in addition to the Knowledge Sharing Program of the Korean government on education will further broaden and deepen bilateral cooperation not only in the field of human resources development of the Kingdom but also in deepening cultural understanding between the citizens of both countries.

The role of many commissions between our two countries such as the Korea-Saudi Arabia Joint Commission, cochaired by the Korean Trade Minister and the Saudi Minister of Economy and Planning, is important in bolstering relations. They serve as a regular forum for discussions in various fields of mutual interest such as economy, trade, investment, culture, energy and others.

Year 2012 will be monumental for both countries as it will celebrate the 50th anniversary since the establishment of diplomatic relations. Both countries are planning many events to commemorate this happy occasion. Above all, Korea has been invited to be the guest of honor at the 27th National Festival for Heritage and Culture in Janadriyah 2012 which will take place in February 2012. Accordingly, Saudi Arabia has also been invited to be the guest of honor at the Seoul International Book Festival in June 2012 and Saudi Arabia will be considered as a very important participating country at the “2012 Yeosu Expo” which will be held from May to August 2012. Many other exhibitions in different fields such as education, tourism, and some specialized trade exhibitions will be held in both countries and many organizations and companies from both countries will participate and contribute toward the success of each event.

I anticipate all these events to contribute in promoting a mutual understanding of the cultures and traditions of our two peoples and thus, further strengthening and upgrading the friendly and cooperative relations that our two countries have been enjoying over the last 50 years.

I, as ambassador, am fully committed to further enhancing relations between our two countries in every field in the years to come. In order to achieve my goal, I look forward to continuously receiving the cooperation and support from the Saudi government officials and friends that I have had the pleasure of getting to know since my arrival in the Kingdom. Once again, I would like to extend my sincere greetings to the leadership, government and people of the Kingdom of Saudi Arabia on this wonderful occasion.