Home / News / Prince Alwaleed Receives Korean Vice Minister of Trade, Industry and Energy

Prince Alwaleed Receives Korean Vice Minister of Trade, Industry and Energy

May 12, 2015

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met with HE Mr. Lee Kwansup, Korean Vice Minister of Trade, Industry and Energy (MOTIE) and an accompanying delegation that included HE Kim Jin Soo, Korean Ambassador to Saudi Arabia at HRH’s office in Riyadh. 


The meeting began as Mr. Lee Kwansup and the delegation thanked Prince Alwaleed for giving them the opportunity to meet with him.  During the meeting, the two discussed a number of social and economic issues, and Mr. Lee Kwansup 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.


The meeting was also attended by a delegation from KHC, the attendees were Dr. Adel Alsayed, Executive Director for Private Equity, International Investments, Mr. Mohammed Fahmy, KHC’s CFO, Mr. Mohammed Almujadidi, Senior Executive Manager, Office of HRH the Chairman, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department and Mr. Majed Altoukhi, Director of Business Development & Operations KRED.


From HRH’s private office the delegation included Ms. Hassna Alturki, Executive Manager for International Relations to HRH the Chairman, Mr. Fahad Bin Nafil, Senior Executive Assistant to HRH the Chairman and Mr. Ahmed Altubaishi, Executive Assistant to HRH the Chairman.


In March 2015, Prince Alwaleed met with Mr. Sohn, Kyung-Shik Chairman of CJ Group and an accompanying delegation at HRH’s office in Riyadh. CJ Corporation is a South Korean conglomerate holding company headquartered in Seoul. It comprises numerous businesses in various industries of food and food service, pharmaceutics and biotechnology, entertainment and media, home shopping and logistics.


Also, Prince Alwaleed met with HE 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 at the King Saud Palace. 


In addition, Prince Alwaleed had signed an MOU with Mr. Hank Ahn, Chairman and CEO of Korea Investment Corporation (KIC). 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.