![Ministry of Economy and Finance at the Government Sejong Center. [Photo by Kim Yoo-jin]](https://image.ajunews.com/content/image/2026/06/28/20260628102250995776.jpg)
Ministry of Economy and Finance at the Government Sejong Center. [Photo by Kim Yoo-jin]
The South Korean government announced on June 28 that it held the first meeting of the "Middle East Infrastructure Cooperation Task Force and Overseas Contract Council" on June 26 to review the status of infrastructure projects in the Middle East and discuss support measures.
This meeting was a follow-up to the "Country-Specific and Sector-Specific Infrastructure Cooperation" plan approved at the External Economic Ministers' meeting on June 10. It marks the inaugural session of the task force.
The task force is a comprehensive government organization involving the government, public institutions, policy finance institutions, and relevant associations. It was established to support economic cooperation measures aimed at improving the overall economic structure beyond just post-war recovery in the Middle East and to systematically assist South Korean companies in securing overseas contracts.
During the meeting, participating organizations introduced key projects currently being pursued in various Middle Eastern countries, sharing insights on contract viability and support needs. They also discussed various support measures, including government-to-government cooperation and financial assistance tailored to the characteristics of specific countries and projects.
Heo Jang, the Second Vice Minister of Economy and Finance, stated, "While uncertainties remain, such as Iran's nuclear inspections and discussions in the U.S. Congress regarding reconstruction aid for Iran, once the situation stabilizes, major countries in the Middle East will seek to improve their overall economic structure beyond mere recovery from damage."
He added, "We have a good opportunity for economic cooperation that could spark a second Middle East boom, thanks to the trust we have built through various collaborations. I urge the government, businesses, and public institutions to work as one team to develop concrete cooperation measures for improving the economic structure of major Middle Eastern countries and to respond proactively and strategically."
The government plans to continuously monitor local conditions and actively support South Korean companies' overseas contract activities and address their challenges.
This meeting was a follow-up to the "Country-Specific and Sector-Specific Infrastructure Cooperation" plan approved at the External Economic Ministers' meeting on June 10. It marks the inaugural session of the task force.
The task force is a comprehensive government organization involving the government, public institutions, policy finance institutions, and relevant associations. It was established to support economic cooperation measures aimed at improving the overall economic structure beyond just post-war recovery in the Middle East and to systematically assist South Korean companies in securing overseas contracts.
During the meeting, participating organizations introduced key projects currently being pursued in various Middle Eastern countries, sharing insights on contract viability and support needs. They also discussed various support measures, including government-to-government cooperation and financial assistance tailored to the characteristics of specific countries and projects.
Heo Jang, the Second Vice Minister of Economy and Finance, stated, "While uncertainties remain, such as Iran's nuclear inspections and discussions in the U.S. Congress regarding reconstruction aid for Iran, once the situation stabilizes, major countries in the Middle East will seek to improve their overall economic structure beyond mere recovery from damage."
He added, "We have a good opportunity for economic cooperation that could spark a second Middle East boom, thanks to the trust we have built through various collaborations. I urge the government, businesses, and public institutions to work as one team to develop concrete cooperation measures for improving the economic structure of major Middle Eastern countries and to respond proactively and strategically."
The government plans to continuously monitor local conditions and actively support South Korean companies' overseas contract activities and address their challenges.
* This article has been translated by AI.
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