The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and South Korean President Roh Moo-hyun held a summit in Riyadh Saturday evening. During their meeting, they discussed ways to enhance cooperation between the two countries, as well as the overall developments in the Middle East, notable the Palestine issue and the situation in Iraq.
The Saudi side included Prince Mishaal bin Abdulaziz; Crown Prince Sultan bin Abdulaziz; Prince Fahd bin Mohammed bin Abdulaziz; Prince Abdulrahman bin Abdulaziz, Deputy Minister of Defense and Aviation and Inspector General; Prince Bandar bin Mohammed bin Abdulrahman; Prince Mit'eb bin Abdulaziz, Minister of Municipal and Rural Affairs; Prince Nayef bin Abdulaziz, Minister of Interior; Prince Sattam bin Abdulaziz, Deputy Governor of Riyadh Province; and Prince Ahmed bin Abdulaziz, Deputy Minister of Interior; Dr. Hisham Yamani, Minister of Commerce and Industry, Dr. Nizar Madani, Minister of State for Foreign Affairs, and Abdullah Al-Aifan, the Kingdom’s Ambassador the Republic of Korea.
The Korean side was also represented by Dr. Kim Shin-il, Deputy Prime Minister and Minister of Education and Human Resources Development; Song Min-soon, Minister of Foreign Affairs and Trade; Kim Young-ju, Minister of Commerce, Industry and Energy; Rho Jun-hyong, Minister of Information and Communication; Lee Yong-sup, Minister of Construction and Transportation; and Ambassador Lee Jae-gil, Ambassador of the Republic of Korea of Saudi Arabia.
At the conclusion of their summit, the two countries sign a number of agreements and memorandums of understanding to expand bilateral relations and cooperation in the area of information technology, education and culture.
President Roh arrived in Riyadh today for a three-day official visit to Saudi Arabia.
Dr. Khalid bin Mohammed al-Anqary, Saudi Minister of Higher Education and Dr. Kim Shin-il, Deputy Prime Minister and Minister of Education and Human Resources Development, signed a memorandum of understanding on higher education.
An agreement on the avoidance of double taxation and prevention of tax evasion was signed today by Dr. Ibrahim Al-Assaf, Minister of Finance of Saudi Arabia Song Min-soon, Minister of Foreign Affairs and Trade. Dr. Al-Assaf said the agreement defines clearly the taxation performance and guarantees no double taxation on the income obtained by investors. Al-Assaf also pointed out that the volume of trade exchange between the two countries is growing steadily. It increased from SR 35 billion [$9.4 billion] in 2000 to more than SR 65 billion [$17.4 billion] in 2005.
Minister of Communications & Information Technology Muhammad Mulla and Minister of Information and Communication Lee Yong-sup signed a cooperation agreement in the area of communications and information technology.