A Qatari government delegation visited Seoul this week to explore ways to turn a partnership with South Korea long centered on energy into one focused on investment in advanced industries.
President Lee Jae Myung’s chief of staff Kang Hoon-sik, who also serves as Lee’s special envoy for strategic economic cooperation, said Seoul expected the talks would soon produce “win-win” investment projects for both countries.
Kang held talks Wednesday in Seoul with Qatar’s Minister of State for Foreign Trade Affairs Ahmed bin Mohammed Al-Sayed, who led the Qatari delegation.
“At today’s meeting, we agreed to expand bilateral ties, which have long centered on natural gas exports and imports and orders for LNG carriers, into investment cooperation in advanced industries such as AI, semiconductors and biotechnology,” Kang said Wednesday on social media.
The meeting came around two weeks after Kang met Emir Tamim bin Hamad Al Thani on April 13 during an urgently arranged trip to Qatar, made while he was visiting Kazakhstan, Oman and Saudi Arabia to shore up energy cooperation amid oil shocks caused by the ongoing war in the Middle East.
Kang underscored that the Qatari delegation’s visit fulfilled the Tamim’s commitment to South Korea.
“At the time, I told Emir Tamim bin Hamad Al Thani that the time had come to expand bilateral cooperation, long centered on the energy sector, into investment in advanced industries such as AI,” Kang said. “He promised to send a delegation ‘immediately.’”
The large-scale delegation led by Al-Sayed included officials from the ministries of commerce and industry, and communications and information technology, as well as the Qatar Investment Authority.
Kang underscored that Al-Sayed was a “leading expert in the investment field,” having previously served as CEO of the Qatar Investment Authority, the world’s eighth-largest sovereign wealth fund, which manages assets totaling $580 billion.
“Minister Al-Sayed said that, when making investment decisions, meeting companies directly is the most important factor, and expressed appreciation to the Korean government for arranging opportunities to meet many high-tech companies during his visit,” Kang said.
Kang explained that investment fund officials accompanying the Qatari delegation were holding a series of consultations with representatives of companies that it is considering investing in.
“We expect that concrete cases of investment cooperation that can benefit both countries will emerge soon,” Kang said, adding that Emir Tamim had conveyed his intention to make Korea his first visit once the situation in the Middle East stabilized.
“We will continue communicating in real time with Qatari government officials, including Minister Al-Sayed, so that this visit to Korea can lead to fruitful results,” Kang said.
Kang previously said Tamim had assured him that Qatar would honor its LNG export contracts with Korea once the Strait of Hormuz reopened, stressing that Qatar would prioritize delivering on its commitments to South Korea.
South Korea’s Ministry of Trade, Industry and Resources underscored the significance of Al-Sayed’s visit to Seoul, saying it was aimed at turning discussions held during Kang’s April 13 trip to Qatar on advanced-industry investment into concrete outcomes.
Trade Minister Yeo Han-koo and Al-Sayed discussed expanding investment cooperation in semiconductors, biotechnology and other advanced sectors during the meeting in Seoul on Wednesday, according to the ministry. The two sides also explored potential cooperation in emerging industries such as AI-driven manufacturing transformation and robotics.
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