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Prince Alwaleed Receives Outgoing Korean Ambassador

January 10, 2016

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received HE Kim Jin Soo, Outgoing Korean Ambassador to Saudi Arabia at HRH’s office in Riyadh. The meeting was also attended by Ms. Hassna Alturki, Executive Manager for International Relations to HRH the Chairman, Mr. Fahad Bin Nafel, Senior Executive Assistant to HRH the Chairman and Mr. Ahmed Altobaishi, Executive Assistant to HRH the Chairman.


The meeting began as the Ambassador thanked Prince Alwaleed for giving him the opportunity to meet 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. Furthermore, Mr. Kim Jin Soo bid farewell to HRH as he had come to the end of his post as Korean Ambassador to Saudi Arabia. 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 2015, Prince Alwaleed received with HE Mr. Lee Kwansup, Korean Vice Minister of Trade, Industry and Energy (MOTIE) and an accompanying delegation at HRH’s office in Riyadh. In the same year, 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.


Kingdom Holding Company’s investment in Korea in the financial sector via Citigroup. Prince Alwaleed also had investments in Korea in both Daewoo Corporation and Hyundai Motors.


Also in 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.