On the auspicious occasion of the 4,347th Anniversary of the National Foundation Day of the Republic of Korea, I am very honored to share the delightful moment of Korean people with citizens of Saudi Arabia and to shed light on the friendly relations between our two countries.

Taking this opportunity, I would like to extend my warm greetings to my fellow Korean citizens and the people of the Kingdom.

I, also, would like to pay homage toward the leadership of Custodian of Two Holy Mosques King Abdullah for his everlasting support for strengthening the friendship between Korea and the Kingdom

Since the establishment of diplomatic relations between Korea and the Kingdom in the early 1960s, the two countries have witnessed their traditional ties of friendship and cooperation deepened year on year on a wide range of fields, sharing common views and values.

In particular, the bilateral relations have been dramatically enhanced in the recent decade in terms of economic as well as cultural exchanges, which has been reflected in the continuously increasing trade volume of trade and ever-expanding mutual visits of high-level officials and common citizens as well.

In terms of trade and economics, Saudi Arabia is Korea’s fourth largest trade partner, whereas Korea is one of the major economic partner countries at the same time.

The bilateral trade volume has been steadily increased from $18.2 billion in 2005 to $46.5 billion last year with the trade balance of $29 billion in favor of Saudi Arabia.

As of the end of 2013, the amount of Saudi Arabia’s’s accumulated investment in Korea has reached more than $700 million, and Korean companies have invested almost the same total amount in the Kingdom up to now.

The economic ties, which the two countries enjoy, are the very example of mutually supportive relations.

The relationship of the two countries is not limited to the industrial cooperation in conventional fields.

South Korea and the Kingdom are now exploring more constructive ways to expand and strengthen the collaboration in other areas such as ICT, health and medical field, science, environment, human resources, culture, youth, exchange and sports.

Indeed, we are, at the moment, in the midst of dynamic activities for further enhancing the bilateral relationship, which would take it to the next level.

It is truly encouraging to witness the enhanced representation of Korean entrepreneurs as well as policy advisers and technical experts along the vast areas in the Kingdom recently.

The exemplary case of the mutual gains would be the first Saudi-Korean Business Opportunity Forum, which is scheduled to take place in coming days in Seoul.

It is expected that several high-ranking officials will attend the inaugural business forum, accompanied by almost 200 top representatives from the whole industry fields in the Kingdom.

It would be no coincidence that high-level exchanges of ministerial level and business delegations have been sped up in proportion to the ever-deepening relations.

There have been almost 20 Ministers’ visits both ways since the last Korean-Saudi summit in the year 2012.

It is expected that 10 ministers will visit each other country within the remaining three months of this year.

In accordance with the increasing mutual visits of governmental officials, person-to-person exchanges are growing faster than ever before.

The resumption of direct flights between the two countries in 2012 has been particularly instrumental to bring the otherwise far-distanced countries psychologically closer.

In actuality, the visitors from the Kingdom to Korea increased to the record number last year, with more than 10,000 people on an annual basis.

Based on these positive developments, our two countries are now trying to lay down the solid foundation to promote youth exchanges with establishing the comprehensive framework for regular program.

In parallel with these endeavors, student exchange of higher education level is continuously expanding year after year.

As of 2014, around 450 talented Saudi students are studying in Korea, with the number dramatically increasing in recent years.

These young people would play a key role in the future relationship, which, I believe, would be the beginning of new chapter in our bilateral relations.

In the field of education and vocational training, there is still much room for cooperation to improve, considering that Korea has almost 370 universities including high-quality vocational and training education, which has provided the industry with the very needed qualified human resources during the rapid economic development phase of Korea during the past decades.

The far-sighted investment in education and training was and, is still the open secret of successful story of Korean economy.

I am deeply convinced that the personal exchange and cultural experience are not only the most effective, practical ways to promote mutual understanding and respect, but also the solid foundation for long-lasting strong friendship.

It deserves our uphill efforts to strengthen those ties, especially having in mind that our two countries do share highly respect for universal values such as peaceful co-existence, mutual prosperity, and respect for other opinion, and as well as they share common grounds of traditional values such as filial piety of respecting the elders, hospitality toward guests, generosity for others and family-oriented social order as well.

I firmly believe that our two countries’ friendship and solidarity will be much more stronger in the years to come.

Once again, I would like to extend my sincere greetings to the leadership, government and people of of Saudi Arabia on this auspicious occasion.

Kim Jin-soo

— Ambassador of the Republic of Korea to Saudi Arabia