South Korea Keen To Expand Ties With Qatar In Semiconductors...| MENAFN.COM

Thursday, 23 March 2023 06:40 GMT

South Korea Keen To Expand Ties With Qatar In Semiconductors, Renewables

(MENAFN- The Peninsula) joelyn baluyut | The Peninsula

Doha: South Korea is looking to deepen and expand bilateral cooperation with Qatar especially in areas of semiconductor, electric vehicles and renewable energy sources such as hydrogen.

Talking to The Peninsula, South Korean Ambassador to Qatar, H E Lee Joon-Ho said the above-mentioned industries are a boost to strengthening relations between the two countries as Qatar seeks to transform and diversify its economy.

“Our two countries have the potential to further deepen and expand bilateral cooperation in various areas including trade and investment, on the basis of the mutually complementary industrial and trade structure of the two countries.

“In particular, as Qatar National Vision 2030 aims at transforming Qatar into more diversified economy, we will seek to expand the scope of cooperation to include semiconductor, electric vehicles and renewable energy sources such as hydrogen.”

The ambassador said that South Korea will continue to take part in several projects associated with Qatar's National Vision 2030, including North Field Expansion project and other infrastructure initiatives, enhancing bilateral economic cooperation.

“Furthermore, we will explore ways to enhance investment between our two countries for mutual benefits on the occasion of high-level exchanges including Korea-Qatar High-Level Strategic Cooperation Committee Meeting, as well as Korea-Qatar Business Forum. By doing so, I believe we can further consolidate bilateral economic relations between Korea and Qatar,” Ambassador Lee said.

Both countries have developed a strong relationship since 1974. South Korea is Qatar's second-biggest economic partner, and Qatar is the major liquefied natural gas (LNG) supplier to Korea.

South Korea-Qatar trade volume in 2022 jumped by over 45 percent compared to 2021. During January to November 2022 period, trade between the two countries surged to $15.4bn.

A Korea Trade Investment Promotion Agency (Kotra) official said earlier that South Korea would send around six to seven trade missions to Qatar in 2023.


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