South Korea and Saudi Arabia are deepening economic ties beyond traditional industries into artificial intelligence (AI), startups, and smart city technologies as part of Riyadh’s Vision 2030, The Korea Times reported.
During the Korea-Saudi Vision 2030 Committee meeting in Seoul, the two countries reviewed progress on 46 joint projects and introduced 11 new initiatives spanning shipbuilding, automotive innovation, digital transformation, and AI. While major firms like Hyundai and Samsung remain central, the agenda increasingly emphasizes startups and SMEs as drivers of next-generation cooperation.
A highlight is Korean internet giant Naver’s plan to integrate AI into digital twin platforms for Saudi cities such as Makkah, Madinah, and Jeddah, supporting smart city development. The move reflects a growing trend of Korean startups and tech firms using Saudi Arabia as a launchpad for expansion into the Middle East’s emerging innovation economy.
The two governments are also backing initiatives in AI governance, bio-health, and content industries. Seoul has pledged to create structured pathways for Korean SMEs to enter the Saudi market, aligning with Vision 2030’s diversification goals. Previous milestones include the 2023 launch of a Global Business Center in Riyadh to support Korean firms and Saudi Arabia’s introduction of an Entrepreneur License Program benefiting foreign startups, including those from Korea.
Large-scale industrial projects continue in parallel. HD Hyundai Heavy Industries and Aramco are finalizing the Middle East’s largest shipyard, while Hyundai Motor is developing a car plant with Saudi Arabia’s Public Investment Fund.
Industry Minister Kim Jung-kwan said Seoul will maintain a regular communication channel with Riyadh to ensure smooth implementation. Analysts note that the collaboration not only cements Korea’s role as a technology partner to Saudi Arabia but also positions Seoul as a bridge linking Asia’s startup ecosystems with the Middle East’s fast-growing innovation market.
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