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Kingdom Holding Signs MOU with Korean SWF

March 3, 2015


HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), signed an MOU with Mr. Hank Ahn, Chairman and CEO of Korea Investment Corporation (KIC) today March 3rd, 2015 at KHC offices in Riyadh. 


Moreover, this strategic partnership aims at generating opportunities in private equity investments and the exchange of investment opportunities between both parties globally.


Furthermore, This partnership is the first of its kind between an investment holding company and a leading sovereign wealth fund.


The signing was attended by Mr. Sarmad Zok, Chairman and CEO of KHI and Member of KHC’s Board of Directors, Dr. Adel Alsayed, Executive Director for Private Equity, International Investments, Mr. Mohammed Fahmy, KHC’s CFO and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the chairman.


His Highness’s investment in Korea through KHC is in the financial sector via Citigroup. Prince Alwaleed also had investments in Korea in both Daewoo Corporation and Hyundai Motors.


In January 2015, Prince Alwaleed received at his office in Riyadh HE Lee Myung-Bak, Former President of Korea and an accompanying delegation.


In 1999, Prince Alwaleed was awarded “The Diplomatic Merit of the Heung Korean”; by former President Kim Dae–Jung in recognition of the Prince’s investments in Korea.


In 1998, HRH had visited Korea and met with the country’s former President Kim Dae-Jung at the Blue House. Prince Alwaleed received an honorary Doctorate in Business Management from Kyungwon University in Seoul, Korea.