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Saudi Minister Requests Korean Startups to Use Saudi Arabia as a Platform

Minister of SMEs and Startups Lee Young (far lawful) holds a meeting with Saudi Arabian Minister of Investment Khalid Al-Falih (far left) in Seoul on Nov. 10.

Saudi Arabia’s Minister of Investment Khalid Al-Falih acknowledged on Nov. 10 that he’ll actively toughen Korean companies when they use Saudi Arabia as a platform for getting into the world market.

Minister Al-Falih had a meeting with Minister of SMEs and Startups Lee Young on the same day at the COMEUP 2022 event held at Dongdaemun Produce Plaza (DDP) in Seoul. The 2 ministers mentioned cooperation for roughly an hour.

“The startup ecosystem in Saudi Arabia has grown six-fold in four years,” Minister Al-Falih acknowledged. “Korean companies wishing to enter the world market are requested to make use of Saudi Arabia as a platform.”

“We are going to have the choice to actively toughen Korean companies that want to extend globally using Saudi Arabia as a foothold,” Al-Falih added. “We’re grateful to the Korean Ministry of SMEs and Startups for providing this different to envision such partnerships.”

Al-Falih also expressed his passion in and fancy of Korea, saying that Korean culture, fashion, and cosmetics are very standard in Saudi Arabia. When Minister Lee requested the Saudi minister how over and over he has visited Korea, he answered, “Uncountable.”

“We mentioned ways to foster Saudi Arabian and Korean startups and establish a world ecosystem,” Minister Lee acknowledged after the meeting.

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