June 27, 2019 11:12
President Moon Jae-in on Wednesday met with Saudi Crown Prince and de facto leader Mohammad bin Salman at Cheong Wa Dae.
Moon and bin Salman signed 10 huge deals worth US$8.3 billion.
Later they attended a ceremony for the completion of a petrochemical plant run by S-Oil with W5 trillion in investments from Saudi Arabia's state-run oil company Aramco (US$1=W1,157).
At a Cheong Wa Dae lunch for the crown prince, guests included Samsung chief Lee Jae-yong, Hyundai Motor chief Chung Eui-sun, SK chairman Chey Tae-won and LG chairman Koo Kwang-mo.
"Saudi Arabia is the No. 1 crude oil supplier to our country... Korea's top trading partner in the Middle East and the biggest investor to Korea," Moon said. "I hope both countries will prosper together."
The prince, who is in a tight spot after the assassination of Saudi journalist Jamal Khashoggi and a disastrous proxy war in Yemen, said he prepared a number of MOUs "to strengthen reciprocal cooperation."
Later in the evening, the heads of Korea's major conglomerates gathered again for a tea with bin Salman in the garden of a Samsung-owned hanok or traditional Korean house in Itaewon. After the gathering, Lee sat down privately with the prince.
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