Korean energy minister will visit Saudi Arabia in November

The South Korean minister of industry and trade will head to Saudi Arabia in the coming month, heading a large delegation of businessmen to discuss developing economic cooperation between the two countries as well as encouraging tourism between them.

It is expected that an agreement for protecting the investment between the two countries as the volume of the commercial exchange between Saudi Arabia and South Korea reaches $8 billion.

The commercial balance is in favor of Saudi Arabia, which exports petroleum and petrochemicals worth $7 billion, while Korea exported industrial products worth $1 billion in 1997.