Korea’s investment in Saudi Arabia has reached $1.4bn in the first half of 2010
Economic cooperation between Saudi Arabia and South Korea in trade and investment continue to expand, Arab News has reported. “Korea’s investment in Saudi Arabia has reached $1.4bn in the first half of 2010,” South Korean Consul General Han Dal-jun said. The kingdom remains Korea’s largest oil supplier, making up one-third of its total oil imports. It imported 265 million barrels of oil from Saudi Arabia in 2009, he noted. “Korea is the third largest trading partner of Saudi Arabia, while the kingdom ranks as the fourth largest trading partner of Korea, with bilateral trade totaling $39bn in 2008,” he added.