1. Korea and Saudi Arabia held the 15th Joint Committee Meeting in the Saudi Arabian capital of Riyadh 
on July 17 with MOFAT’s Minister for Trade Kim Jong-hoon and Saudi Arabian Minister of Economy and 
Planning Khalid bin Mohammed Al-Gosaibi leading their respective delegations.

2. In the Meeting, the two sides reviewed progress in the implementation of the agreements reached at 
the 14th Meeting held in November 2007; discussed ways to expand cooperation in traditional areas, 
including trade, investment, petroleum, construction, education, vocational training, security and cultural 
exchange; and explored new sectors, such as sharing policy experience and nuclear energy, where the 
two countries can work together.

3. With both sides recognizing true benefits of the stable international petroleum market for producers 
and consumers, the Saudi Arabian delegation stated that every effort will be made for continued supply 
of crude oil to Korea.

4. The Korea-Saudi Arabia delegations took note of close cooperation between the two countries in 
economic-development planning; nuclear energy; primary education; and smart grid (an electricity 
network system for optimized energy efficiency) as part of the Knowledge Sharing Program aimed at 
transferring Korea’s experience in economic development. They then expected the two countries to grow 
closer through the Program.

5. The Korean delegation explained the safety and excellence of Korean-built nuclear-power plants, in 
response to which the Saudi Arabian side expressed willingness to work with Korea in the nuclear field.

6. The Korean side has made continued references to complaints by Korean businesspeople, who make 
frequent business trips to Saudi Arabia, over the inconvenience caused by an average of only two weeks 
of stay granted them under a multiple-entry visa. The Saudi Arabian side responded at the latest Joint 
Committee Meeting that the length of stay will be extended, which is expected to somewhat reduce the 
inconvenience sustained by Korean businesspeople down the road. 

                        Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation