Saudi Arabia's Crown Prince Bin Salman's Visit to Korea and the Neom City Project

Let's take a look at Saudi Arabia's Crown Prince Bin Salman's Visit to Korea and the Neom City Project.

Saudi Arabia's Crown Prince Bin Salman Arrived in Korea. Bin Salman, Crown Prince of Saudi Arabia, Kingdom of Oil. He is Saudi Arabia's prime minister and the world's richest man. It is impossible to estimate his exact property. Bin Salman arrived in South Korea on 17 November 2022. His accommodation for his stay is Lotte Hotel located in Sogong-dong, Jung-gu, Seoul.

Saudi Arabia is planning the Neom City project. Neom City, which is being built as a mega construction project in Saudi Arabia is a cutting-edge future smart city with an astronomical budget. This reflects bin Salman's intention to reduce dependence on oil. The project that is receiving the most attention is the Eco-Friendly Linear City, The Line Project. And there are the Oxagon project in the sea and the Trojena project planned for the purpose of tourism income in the mountains.

During his visit to Korea, there was a meeting between the heads of South Korean conglomerates and Bin Salman. The heads of Korean conglomerates invited to the tea conference are eight. Let's take a look at the list and positions of the four heads of large companies who were previously invited to the tea conference meeting. 

Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Choi Tae-won , Hyundai Motor Group Chairman Chung Eui -sun and Kim Dong-gwan vice chairman of Hanwha Solutions. They are the heads of large corporations who were invited in advance.

In addition, Bin Salman invited four more heads of large conglomerates. Let's look at the list and positions of the four heads of large corporations who were invited later.

CJ Group Chairman Lee Jae-hyun, Park Jeong-won  Doosan Group Chairman, Lee Hae-wook DL Group Chairman, Chung Ki-sun President Hyundai Heavy Industries. The four heads of large corporations were invited later. The eight people invited to the tea conference meeting are the heads of large Korean companies.

After Bin Salman's visit to Korea, interest in Neom City theme stocks has risen rapidly. It is expected that Korean companies will increase their participation in Saudi Arabia's project through the expansion of participating companies and longer meeting times. Expectations for business orders have increased after his visit to Korea. Interest in theme stocks related to the Neom City project has increased. Samsung C&T, Hyundai Engineering & Construction, and Hanmi Global are among the Neom City order-winning companies. Interest in companies with the possibility of winning other projects has risen rapidly.

Neom City information is being reported intensively in the media, which was already known before his visit to Korea. Even before his visit to Korea, the volatility of theme stocks related to Neom City orders was increasing. Neom City theme stocks should be cautious about the possibility of a sharp drop after a surge, which is a characteristic of theme stocks. The information related to Neom City, which has been reported extensively in the media after visiting Korea, is information that has already been known. Short-term investors who have moved ahead have taken profits. It is necessary to keep an eye on the possibility of implementing the MOU in the future.

There was a visit to Korea by Crown Prince Bin Salman of Saudi Arabia, and during the visit, there was a meeting between the heads of a Korean conglomerates and Bin Salman. After Bin Salman's visit to Korea, interest in Neom City-themed stocks rose rapidly. Neom City information reported in the media is already known information. Short-term investors who acted in advance before being reported in the media have realized profits. It is necessary to keep an eye on the possibility of implementing the MOU in the future.