President Yoon Seok-yeol’s Middle East Diplomacy and Economic Success: $79.2 Billion Opportunities for Korean Companies

2023-10-30 02:05:40
President Yoon Seok-yeol is presiding over a cabinet meeting at the Presidential Office Building in Yongsan, Seoul on the 30th. /yunhap news

Regarding the recent state visit to Saudi Arabia and Qatar, President Yoon Seok-yeol said at the Cabinet meeting on the 30th, “Following the state visit to the UAE (United Arab Emirates) earlier this year, we have completed summit diplomacy with the big three countries in the Middle East.”

President Yoon said, “The economic delegation of about 130 people accompanying me signed 63 MOUs (memorandums of understanding) and contracts in Saudi Arabia and Qatar worth a total of $20.2 billion.”

President Yoon added the $29 billion MOU signed during Saudi Crown Prince Mohammed bin Salman’s visit to Korea at the end of last year and the $30 billion investment promise announced during his state visit to the UAE early this year, adding, “The Middle East will be a huge playing field for our companies worth $79.2 billion, or approximately 107 trillion won.” “It was newly created.”

President Yoon said, “Such large-scale exports and orders will revitalize the economy and people’s livelihood by creating quality jobs.”

President Yoon mentioned the results of a recent visit to the people’s livelihood by the President’s Office staff and said, “There is nothing more priority than quickly responding to the cries of the people and the cries on the ground who are waiting for help right before their eyes.”

He said, “I will also delve deeper into the lives of the people than I do now and do my best to quickly resolve the cries from the field that I heard directly from the President’s Office.”

President Yoon said, “This on-site visit by the President’s Office will not be a one-time thing, but will be established as a system that continuously communicates directly with the people,” adding, “High-ranking officials such as ministers, vice ministers, commissioners, offices, and directors of each government department will be responsible for the people’s livelihood, “We need to visit administrative sites in person, listen to vivid voices from the field, and create living policies, not desk policies,” he said.

President Yoon mentioned various pending issues in his plenary remarks for about 23 minutes at the Cabinet meeting on this day.

Regarding ‘crimes targeting the weak,’ President Yoon said, “The majority of the victims of jeonse fraud are young people who are new to society, and it is a vicious crime that preys on future generations.” He added, “The prosecutors and police will track down the jeonse fraud offenders and their accomplices to the ends of the earth and punish them without fail.” “I hope you do it,” he said.

In response to criticism that the government’s comprehensive national pension operation plan announced on the 27th was ‘a piece of water without numbers,’ President Yoon said, “Pension reform will end with only presenting conclusive numbers without supporting scientific evidence or social consensus. “It is not a problem that can be solved,” he said.

He continued, “The past government only caused conflict by submitting four alternatives without a firm commitment to pension reform,” and added, “Our government has not repeated these steps and has been steadily preparing to achieve proper pension reform.”

President Yoon said, “Even if it is difficult and difficult, we will keep the promise we made to the people through social consensus. As pension reform is completed through legal revision, the government will actively participate and support the National Assembly’s process of preparing reform plans and promoting public discussion.” He said.

President Yoon mentioned ‘achieving a bipartisan agreement on pension reform’, which he pledged during the presidential election, and said, “I will definitely keep this promise. “We will do our best to reach a national consensus on pension reform without calculating political pros and cons,” he said.

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