South Korea and Saudi Arabia signed a memorandum of understanding on oil and gas cooperation during Industry Minister Kim Jung-kwan visit to Riyadh over the weekend, expanding a wartime energy partnership into a broader framework covering stockpiling, pipelines, petrochemicals and industrial technologies. The two countries agreed to ensure stable crude oil and naphtha supplies through the end of this year, while also expanding cooperation in artificial intelligence (AI), minerals and manufacturing projects, according to the Ministry of Trade, Industry and Resources.

Kim also met Saudi investment and industry ministers to review major projects involving South Korean companies, including Hyundai Motor’s