(Unofficial Translation)

I am glad to meet you all. 

I am very proud to see our Samsung C&T constructing a metro system, the backbone of public transit, in the center of Riyadh. I know how strenuous your work here is. I have scheduled this visit today in the hope that our people back in Korea will see for themselves this proud achievement and understand how hard you are working. 

Joining us here from the Saudi Arabian side are the Minister of Investment, the Minister of Transport and Logistic Services, the CEO of the Royal Commission for Riyadh City and other distinguished guests. I am grateful to all of you.

The Riyadh Metro is the first metro and public transport system under construction in Saudi Arabia. I am very proud that Korea’s Samsung C&T is playing such an important role.

The Riyadh Metro is also a key project of the Vision 2030 strategy being prioritized by Saudi Arabia. As you know, Saudi Arabia was the first Middle Eastern country that Korean construction companies entered, and it is also the country where they have engaged in the most construction projects.

Right here in Saudi Arabia, what we called “the first Middle East construction boom” was born, and that greatly helped Korea’s economic growth, indeed. As such, Korea and Saudi Arabia have been working together very closely in the construction and infrastructure sectors since establishing diplomatic relations. Cooperation in these sectors has served as an opportunity for our two countries’ significant growth.

By the way, the current Riyadh Metro project, which is being carried out by Samsung C&T, seems to have taken on a new dimension. As a high value-added and quality project, this has gone beyond what has been done in the past – simple construction completed on a subcontract basis – it is demonstrating a new level of Korean construction. 

I heard that Samsung C&T, with its excellent technological and construction prowess, won the order through a fierce bidding process against over 100 global businesses. I am very proud of the fact that it is building the most important section along with world-renowned partners.

If construction of the Riyadh Metro goes well, Saudi Arabia will be planning several additional large-scale projects going forward. NEOM – a futuristic high-tech smart city – is currently under construction, and Qiddiya, an extensive tourist entertainment complex, is being built near the Red Sea. 

In addition, Saudi Arabia is now pushing a project to build a facility that will allow it to develop shale gas for the first time. All of these are projects that Samsung C&T is eager to win orders from.

If we complete the Riyadh Metro project successfully, I believe that many new opportunities will open up for other Korean companies as well as Samsung C&T. 

Korea is a key partner for the Vision 2030 strategy being pursued by Saudi Arabia. At the 3rd Saudi-Korea Vision 2030 Committee meeting held on the occasion of my visit this time, our two countries agreed to further strengthen a variety of bilateral cooperation on plants and infrastructure construction among others. At the summit with Crown Prince Mohammed bin Salman yesterday, we also agreed to greatly expand bilateral cooperation.

The Korean Government will continue to actively support businesses, so they have more opportunities to enter Saudi Arabia and other parts of the Middle East and to take part in construction projects. 

I hope you can see that the beads of sweat you shed and the efforts you put in will become a steppingstone that helps Korea-Saudi relations advance a step further and take a leap forward. To this end, I ask you to do everything you possibly can. Moreover, amid the ongoing COVID-19 pandemic, please stay in good health and return to Korea safely.

Today, I am deeply moved, very proud and so grateful to see all of you Samsung C&T employees so far away here in Saudi Arabia. I sincerely hope that you all can stay safe together.

Thank you.