Expanding from South Korea to Saudi Arabia: Key Opportunities and Business Insights

Why Are South Korean Companies Expanding to Saudi Arabia?

South Korean companies are rapidly expanding to Saudi Arabia to tap into the Kingdom’s growing need for smart technology, infrastructure development, and energy solutions. Vision 2030’s push for giga projects like NEOM, The Line, and Qiddiya creates clear entry points for South Korean firms in engineering, construction, and electronics.

Saudi Arabia’s demand for smart home technology, renewable energy, and next-generation mobility solutions aligns with South Korea’s expertise in these areas. This synergy allows South Korean companies to become key players in Saudi’s transformation.

3 Key Sector Opportunities for South Korean Companies Expanding to Saudi Arabia

• Smart Technology and Electronics: South Korean companies can provide smart home devices, electronics, and IoT-enabled products for NEOM and Riyadh’s smart infrastructure.
• Infrastructure and Construction: South Korean construction firms can support large-scale projects like The Line, Qiddiya, and Red Sea Global.
• Renewable Energy and Hydrogen Production: Companies with expertise in clean energy production can support Saudi Arabia’s clean hydrogen and renewable energy goals.

Recent Partnerships and Expansion Announcements for South Korean Companies in Saudi Arabia

• Samsung C&T: Signed agreements to support construction projects in NEOM and Red Sea Global.
• Hyundai Engineering & Construction: Awarded contracts for construction projects related to The Line and other Giga Projects.
• LG Electronics: Expanded its presence by providing smart home appliances and electronics to support the development of smart cities.
• POSCO: Partnered with Saudi’s PIF to explore green hydrogen production and the development of clean energy projects.
• SK Group: Announced joint ventures with Saudi firms to develop energy storage and battery technologies for sustainable energy projects.

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