Saudi Crown Prince, South Korean President oversee signing of several MoUs

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Saudi Arabia’s Crown Prince Mohammed bin Salman and South Korea’s President Moon Jae-in oversaw the signing of several memorandums of understanding between their countries across several fields.

The MoUs were signed in the fields of communications and information technology, e-government, culture, automobiles, hydrogen economy, health insurance, financial institutions supervision, and across military industries and technology.

One of the signings included a cooperation agreement between the Saudi Standards, Metrology and Quality Organization (SASO) and the Korea Research Institute of Standards and Science (KRISS).

“The agreement aims at implementing joint research projects in various fields of measurement and calibration, enhancing the technical efficiency of the laboratories of the National Center for Measurement and Calibration, achieving international recognition of the technical measurement capabilities of Saudi Arabia and conducting basic inter-comparisons to match the national measurement standards with Korean measurement standards to serve trade exchanges between the two countries,” a statement on Saudi Press Agency read.

The signings came on the sidelines of Saudi Arabia’s Crown Prince Mohammed bin Salman’s state visit to South Korea’s capital Seoul on Wednesday.

Saudi Arabia, as the world’s largest reliable oil exporter, has also affirmed its commitment to pursue the flow of Saudi oil supplies to world markets and to meet Korea’s growing needs of crude oil and petroleum products, and to compensate for any shortage that may occur as a result of any supply disruptions from other sources.

After the visit to South Korea, Crown Prince Mohammed bin Salman will lead the Saudi delegation to the G20 Summit in Osaka, Japan, on June 28-29.

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