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Doha, October 24 (QNA) – The State of Qatar and the Republic of Korea have had strong strategic relations for around fifty years, during which the two countries were keen to express a common aspiration and mutual keenness to develop those relations and push them toward promising partnerships and broader horizons.
In this context, the state visit of HE President of the Republic of Korea Yoon Suk Yeol to Doha falls in line with the two countries’ efforts to strengthen those relations in various fields in a way that serves the interests of the two countries and their friendly peoples.
HH the Amir Sheikh Tamim bin Hamad Al-Thani will meet at the Amiri Diwan on Wednesday with HE President Yoon Suk Yeol to discuss ways to develop bilateral relations in various fields and sign a number of memoranda of understanding to strengthen and enhance the bonds of friendship and cooperation between the two countries.
The visit of HE the President of the Republic of Korea to Doha is of great importance for strengthening bilateral relations and constitutes a new station on the path to developing bilateral cooperation in various fields, which will benefit both countries and peoples and contribute to achieving regional security and stability as well as global peace.
The relations which began in 1974 between Doha and Seoul are characterized by being close and strong, based on cooperation, common interests, and mutual respect between the two countries.
The State of Qatar opened an embassy in Seoul in 1992. Since that time, relations have witnessed continuous growth and a wide exchange of visits at the highest levels in both countries, the most important of which in recent years are the visits of HH the Amir Sheikh Tamim bin Hamad to Seoul in 2019 and 2014. This was preceded by a number of visits, including the visit of HH the Father Amir Sheikh Hamad bin Khalifa Al-Thani to the Republic of Korea in April 1999, in addition to several mutual visits at the Prime Minister and ministerial levels, all of which contributed to raising bilateral relations to the level of strategic partnership undertaken by the High-Level Strategic Cooperation Committee, which began its work in 2012 and is held alternately in the capitals of the two countries, covering various areas of common interest.
Bilateral relations remained on a developing path at a rapid and regular pace, reflected in a number of agreements, memorandums of understanding, and strategic cooperation that were signed between the two countries in the economic, trade, investment, cultural, media, sports, security, education, tourism, youth, health care, medical sciences, roads, land and air transport, investment encouragement, and avoidance of double taxation, in addition to human resources development, research on the peaceful uses of nuclear energy, technology and innovation, smart grids, smart farm development, agricultural research, and food security, which has raised these relations to the level of a strategic partnership.
In June 2023, the Sixth High-Level Strategic Cooperation Committee between the State of Qatar and the Republic of Korea was held in Seoul, where aspects of cooperation in various priority sectors were reviewed. The two sides also discussed the progress that had been made in the recommendations of the Joint Technical Working Committee, in addition to ways to enhance bilateral cooperation in various fields, including trade, investment, construction, infrastructure, agriculture, maritime transport, civil aviation, health, education, and information technology.
In November 2022, the State of Qatar participated in the 18th Korea-Middle East Cooperation Forum, which took place in Seoul under the sponsorship of the Korean Ministry of Foreign Affairs. The forum was titled “Building a Future-Oriented Korea-Middle East Partnership for Mutual Benefit and Common Prosperity” and featured three sessions focusing on political, economic, and food security pillars, with the participation of officials, experts, and researchers from South Korea and the Middle East.
The close trade relations between Doha and Seoul have resulted in a trade volume exceeding USD 17.1 billion in 2022, making Korea, Qatar’s third-largest trading partner.
Qatar supplies Korea with one-third of its liquefied natural gas (LNG) consumption through a long-term agreement, contributing to the stability of Korean energy supplies for industrial and residential sectors. This gas is transported to Korean ports aboard a fleet of the latest giant carriers built by Korean companies, involving investments worth billions of dollars. Qatar is also the sixth-largest source of oil imports for Korea.
Korea exports various goods to Qatar, including cars, heavy construction equipment, and electrical transformers. Many Korean companies operate in the State of Qatar, including 34 wholly Korean-owned companies with capital exceeding USD 1 billion. There are also 115 joint Qatari-Korean companies with a combined capital of nearly USD 2 billion.
In September, QatarEnergy signed an agreement to build 17 new LNG carriers with Korea’s HD Hyundai Heavy Industries. This deal marks the start of the second phase of QatarEnergy’s giant LNG ship acquisition program, which will support its expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects as well as its long-term fleet replacement requirements.
Together with the 60 ships contracted in phase one of the program, which will be built in Korean and Chinese shipyards, the new agreement brings the total number of confirmed LNG vessels to be delivered to QatarEnergy and its affiliates to 77, with more to follow.
QatarEnergy’s program to build the largest fleet of LNG carriers of its kind in the history of the LNG industry will play a significant role in meeting future shipping requirements as it expands its natural gas production capacity.
The Korean Peninsula is located in the far eastern region of Asia, bordered by China to the north, the China Sea to the west, and the Sea of Japan to the east. Korea’s land area is slightly over 98,000 square kilometers, and its population is estimated at around 51 million people. The majority of the population is concentrated in the capital, Seoul, and other major cities such as Busan, Daejeon, and Incheon.
Korea has achieved remarkable economic growth and stands as one of the most impressive economic success stories of the 20th century. It increased per capita GDP at a faster rate than any of its neighbors and has become the fourth-largest economy in Asia.
The capital, Seoul, is the political and economic center of Korea. The country is known for its rich historical landmarks coexisting with modernity and development. You’ll find Seoul filled with advanced architectural structures, skyscrapers, mountains, and historic buildings.
(QNA)
