Korean minister of energy visits Saudi Arabia

Korean economic sources in Cairo announced yesterday that South Korean Minister of Energy Pak Tae-yong is going to visit Riyadh at the end of the current month.

He will meet with his Saudi counterpart, Ali al-Nami, and Minister of Industry and Electricity Hashem Yamani as well as other Saudi officials to discuss aspects of economic cooperation between the two countries and the possibility of developing joint projects.

Korea imports 30% of its petroleum from Saudi Arabia. There is also an investment project between the Saudi Aramco company and the Korean Ssang Yong Oil Refining Company in which Aramco invests $200 million.