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Korean President & Prince Alwaleed Meet in Riyadh

March 5, 2015

 

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met with Her Excellency Park Geun-Hye, President of the Republic of Korea with an accompanying delegation that included HE Ahmad Yunus Al-Barrak, Saudi Arabian Ambassador to Korea on Wednesday, 5th March 2015 at the King Saud Palace. 

 

The meeting began as Prince Alwaleed welcomed President Park Geun-Hye. During the meeting, the two discussed a number of social and economic issues, and President Park Geun-Hye commended Prince Alwaleed for his support to the Republic of Korea on the economic front. Also on the agenda of discussions was an invitation to Prince Alwaleed to visit Korea. In response, Prince Alwaleed promised to visit Korea in the near future. 

 

In addition, Prince Alwaleed had signed an MOU with Mr. Hank Ahn, Chairman and CEO of Korea Investment Corporation (KIC) on Tuesday 3rd March, 2015 at KHC offices in Riyadh. 

 

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.

 

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.