Saudi, Korean firms sign multiple business deals
Saudi Arabia and South Korea agreed to work together in developing the hydrogen economy. After holding the talks at Al-Yamamah palace in Riyadh, the two nations signed preliminary deals to jointly develop green hydrogen, which is produced from renewable energy sources, especially solar and wind, and jointly build a hydrogen ecosystem.
Under the deals, Seoul will be able to secure carbon-neutral hydrogen and ammonia supplies from the Kingdom. It will also help Riyadh operate hydrogen-powered cars and hydrogen fueling stations.
The Saudi-Korean Business Forum culminated today in 13 investment agreements in such areas of strategic interest as clean energy and manufacturing, smart infrastructure and digitalization, capacity building, SMEs, healthcare and life sciences.
