Around 70 Korean companies exhibited their catalogs of products and services at a show organized by the Korean consulate with the cooperation of Jeddah Chamber of Commerce (JCCI) recently.

Korean Consul General Nak Young Oh, JCCI Secretary General Adnan H. Mandourah, local industry leaders and Korean businessmen and businesswomen attended the event.

The envoy underlined the increasing collaboration between Korean firms and their Saudi counterparts while speaking at the event.

The exhibition represented various sectors, including beauty, cosmetics and fashion, health and medical care, machinery, equipment, material and maintenance and operation and repairs, food and related products, environment and renewable energy, energy saving, and energy efficiency and electronics.

The envoy said the 5th annual Korean catalog show was held in a bid to promote business interaction between the businessmen of the two countries since its launch in 2011.

“On the trade front, Saudi Arabia is one of the major trading partners of Korea; the bilateral trade volume has leaped from $4.2 billion in 1991 to $31.3 billion in 2010, and again jumped to around $46 billion in 2014. The Kingdom is Korea’s largest oil supplier, making up almost one-third of Korea’s total oil import,” he said.

Mandourah said the two countries have a good track record of cooperation in many economic fields, especially ports. “Saudi and Korean companies have concluded a number of joint economic and investment agreements. The two countries have also been exchanging visits of business delegations,” he added.

The Kingdom and South Korea have many promising and potential fields for cooperation, especially projects related to construction, medium and light industries, petrochemicals and infrastructure, he said.

“There are many potential opportunities of investment in Saudi Arabia. I would like to invite companies from Korea to explore the business prospects,” he added.