On June 15, Minister of Trade, Industry and Energy Kim Jung-kwan visited Qatar to discuss enhancing energy supply chain cooperation and investment in advanced industries.
Qatar is South Korea's third-largest supplier of LNG. This visit aimed to reaffirm the cooperation on stabilizing LNG supply discussed during a government envoy's visit to Qatar in April and to expand the energy-focused partnership into advanced industries and investments.
During his visit, Minister Kim met with Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs and CEO of QatarEnergy. The two sides shared updates on the operations of the Ras Laffan industrial complex, the world's largest LNG production and export hub, amid geopolitical instability following four declarations of force majeure since the outbreak of conflict in the Middle East. They focused on discussing stable gas supply chain cooperation despite the ongoing challenges.
Qatar reiterated its commitment to prioritize LNG and condensate supplies to South Korea. Minister Kim requested active interest and support for South Korean companies to participate in upcoming energy plant projects that will be launched after the cessation of hostilities.
On the same day, Minister Kim held talks with Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar's Minister of Commerce and Industry, agreeing to expand cooperation into future industries, including shipbuilding and advanced industries.
The two sides discussed plans for increased Qatari investment in South Korea's advanced sectors such as AI, biotechnology, and robotics. The Korea Trade-Investment Promotion Agency (KOTRA) will identify promising domestic companies to introduce to Qatari investors, who will prioritize investment reviews. If a consensus on investment goals is reached, they will also pursue a memorandum of understanding (MOU).
Additionally, the two countries agreed to hold a high-level strategic council meeting in Doha, Qatar, as soon as possible to strengthen cooperation across trade, investment, and infrastructure. They plan to identify specific cooperation projects and accelerate their implementation.
Minister Kim stated, "In the face of increasing uncertainty in the international situation, the strong trust and cooperation between South Korea and Qatar hold significant importance for stable energy supply and global supply chain stability. I hope we can enhance our cooperation based on stable LNG supply and expand into future growth areas such as advanced industries and investments, further developing our bilateral relationship."
Meanwhile, Minister Kim plans to visit the United Arab Emirates (UAE) following his trips to Saudi Arabia and Qatar to discuss cooperation in nuclear power, plant projects, and new industries.
* This article has been translated by AI.
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