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President Yoon Suk Yeol shakes arms with a Qatari official in the course of the Korea-Qatar Enterprise Discussion board at a resort in Doha, Wednesday. HD Hyundai CEO Chung Ki-sun is seen within the center. Yonhap
Korea, Qatar to cooperate in self-driving vehicles, good farms, healthcare, finance
By Ko Dong-hwan
Korea and Qatar agreed to raise their energy-centered partnership to incorporate self-driving autos, good farms, healthcare, and finance, in line with the Ministry of Commerce, Business and Vitality, Wednesday.
The 2 international locations signed 10 memorenda of understanding (MOU) at a bilateral enterprise discussion board in Doha on Wednesday. Korea’s Minister of Commerce, Business and Vitality Bang Moon-kyu and Qatari Minister of Commerce and Business Hamad bin Qassim Al Thani oversaw the signing ceremony. Exterior the discussion board, one other MOU and contract had been additionally signed.
The MOUs encompassed a variety of fields, reflecting the expanded scope of bilateral commerce past liquified pure fuel (LNG). Two MOUs had been inked to increase energy producing services in Qatar and 6 to spice up new industries within the Center Japanese nation, equivalent to autonomous driving, medical services, cosmetics, vogue and good farms.
Cooperation for future plant building tasks in Qatar led to 1 MOU, whereas Korea Commerce Insurance coverage Company and Qatar Improvement Financial institution signed one other MOU to assist Korean corporations’ future commerce with Qatar.
President Yoon Suk Yeol provides a gap speech on the Korea-Qatar Enterprise Discussion board in Doha, Wednesday. Yonhap
Samsung’s building and engineering subsidiary, Samsung C&T, self-driving expertise developer SWM and Daemo Engineering had been a part of the Korean enterprise delegation attending the discussion board, whereas Qatar Free Zone Authority, Protocol Capital and Qatar Constructing Firm had been among the many Qatari contributors.
Exterior the discussion board, commerce ministers from the 2 international locations signed one other MOU for a “commerce funding stimulation framework.” The settlement will push the 2 international locations to diversify provide chains for bilateral commerce, whereas transitioning Qatari industries to the digital and bio industries, in line with the commerce ministry.
The spotlight of the bilateral offers was a $3.9 billion deal signed by HD Hyundai Heavy Industries and Qatar Vitality to buy 17 new LNG carriers from the Korean shipbuilder. The deal finalized the settlement for the order made between the 2 corporations final September.
The world’s greatest LNG exporter, Qatar is anticipated to extend its annual shipement quantity of the fuel from 77 million tons to 126 million tons by 2027, in line with the commerce ministry. The enlargement, along with rising demand for ships to move the commodity, prompted the Korean ministry to pursue the shipbuilding cope with Qatar.
“Our partnership that has to this point hinged on LNG will to any extent further increase to new commerce routes, together with good cities, good farms, renewable vitality, medical services and academic fields,” Bang stated.
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