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The leaders of South Korea and Saudi Arabia agreed Thursday to boost ties in key sectors such as energy and defense, with the oil-rich kingdom signing a slew of deals including a $6.7 billion petrochemical agreement.  During the visit, the two governments and companies from both countries — including some of Seoul’s top conglomerates — signed about 20 deals in areas from agriculture to railways.  Among the agreements was Saudi investment for South Korean refiner, S-OIL's Shaheen project, which would build petrochemical production facilities in South Korea worth $6.7 billion.

S. Korea, Saudi Arabia agree to boost energy and defense ties

The leaders of South Korea and Saudi Arabia agreed Thursday to boost ties in key sectors such as energy and defense, with the oil-rich kingdom signing a slew of deals including a $6.7 billion petrochemical agreement.  During the visit, the two governments and companies from both countries — including some of Seoul’s top conglomerates — signed about 20 deals in areas from agriculture to railways.  Among the agreements was Saudi investment for South Korean refiner, S-OIL’s Shaheen project, which would build petrochemical production facilities in South Korea worth $6.7 billion.

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