20231025 Mohammed bin Salman and President Yoon Suk Yeol

Saudi Crown Prince Mohammed bin Salman, behind the wheel, and South Korean President Yoon Suk Yeol, were all smiles in Riyadh. Companies from their countries signed dozens of business deals. © Yonhap/EPA/Jiji

From EVs to digital, South Korea bags deals in tense Middle East

Hyundai, Naver join Yoon during his business-focused trip to Saudi Arabia and Qatar

KIM JAEWON, Nikkei staff writer

October 27, 2023 06:00 JST

SEOUL -- South Korea is strengthening business and economic ties in the Middle East, signing deals for electric vehicle manufacturing, digital development, energy, infrastructure and shipbuilding as it seeks fresh opportunities in a region it heavily depends on for oil and gas.

The push is led by President Yoon Suk Yeol, who followed up a visit to the United Arab Emirates in January with a trip to Saudi Arabia and Qatar this week -- just as geopolitical tensions nearby spike in a stark reminder of the broader area's potential for instability.