[Unofficial Translation]

As-salamu alaykum, good afternoon, everyone. It is a great pleasure to attend this special dialogue session of the Future Investment Initiative Forum today. I am grateful to all of the Saudi officials who organized this meaningful event. My special thanks go to Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, the many heads of state and global business leaders.

Although Korea and the Middle East are at opposite ends of the vast Asian continent, we began trading with one another more than 1,300 years ago along the Silk Road. It was in fact Arabian merchants who made known to the entire world the Korean Peninsula’s Goryeo Kingdom 1,000 years ago, calling it Korea.

Today, in the heart of the Middle East where Korea was first introduced to the world, I, in my capacity as the salesperson for the Republic of Korea, would like to bring to your attention my country as an optimal partner for economic and investment cooperation.

First and foremost, the Republic of Korea is a trusted partner.

Despite inhospitable conditions, Arabian merchants overcame countless adversities to become the Silk Road’s leading traders. They did this by making trust the most important part of any transaction. Saudi Arabia was among the first countries to trust the Republic of Korea and recognize our potential. In the early 1970s, Korean businesses and employees worked 24 hours a day over three shifts to construct the AlUla-Kaiba expressway, successfully completing the project within schedule.

Gaining a clear sense of the diligence and dependability of Korean workers, Saudi Arabia and other Middle Eastern countries entrusted Korean businesses with more construction orders. This became the starting point for Korea, a land with no natural resources or special technology, to generate the Miracle on the Han River.

Even now, when uncertainty has become the new normal due to numerous factors like geopolitical tensions and supply chain fragmentation, Middle Eastern countries’ trust in the Republic of Korea remains firm. Saudi Arabia announced economic cooperation in energy, the defense industry and infrastructure construction of a value of US$29 billion on the occasion of the visit to Korea by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud last year. This year the United Arab Emirates also pledged an unprecedented investment of US$30 billion.

I want to next offer some reflections on how the Republic of Korea is tapping innovation to spearhead high-tech industries.

Korean businesses account for the manufacturing of more than 20 percent of the world’s semiconductors, rechargeable batteries and smart phones. Having successfully launched a space launch vehicle and lunar orbiter, Korea finds itself ranked among the world’s top seven space powerhouses.

Not only does our country have unrivalled nuclear power plant construction know-how, as evident from the Barakah Nuclear Energy Plant in the UAE, but we also produce a wide range of global cultural content with shining instances being BTS, BLACKPINK and "Squid Game."

Work began in March on an excellent example of synergy between Korean technology and Saudi investment – the Shaheen Petrochemical Project. This highly efficient, state-of-the-art production facility – constructed through the largest petrochemical investment in the history of the Republic of Korea – will greatly reduce manufacturing costs, create jobs in a wide range of interrelated upstream and downstream industries and indeed revitalize the economy.

Lastly, the Republic of Korea, embracing a sense of solidarity, seeks to help all to thrive together.

The declared goal of my administration is nurturing Korea into a global pivotal state. The Republic of Korea is now ready to help many countries experience the same type of internationally supported economic growth and development that we did. We will significantly increase official development assistance as well as technological and people-to-people exchanges, building a prosperous future together with the Middle East and indeed the world.

There is an Arabic saying about embarking on a journey: "Choose the friend before choosing the road." The Republic of Korea is an innovative, trustworthy partner with whom you can stand side by side in the future path ahead.

Distinguished leaders and businesspeople from around the world,

I look forward to your joining the Republic of Korea on our journey toward ushering in a new era.

Thank you. Shukran Jazeelan.