South Korean Kolon Group to build a new model of economic ‎cooperation with Saudi Arabia

Kolon Group plans to build a new model of economic cooperation with Saudi Arabia by hosting the “Aramco Team Championship Series” starting next year.‎

According to the Korean Yonhap Agency, the two sides agreed that South Korea will host the “Aramco Team Championship Series” for a period of 3 years (or a maximum of 5 years) starting next year to make it a place for smooth exchange between the main companies from both countries.

The two sides plan to discuss details such as the specific schedule for golf competitions and the players participating in them

It is noteworthy that the “Aramco Team Championship Series” is a new form of golf competition, combining golf and business. Since it is held in conjunction with the Future Investment Initiative called “Davos Forum in the Desert,” it is a platform that actually helps exchange between companies from both countries and project development.‎

Kolon expects that hosting the “Aramco Team Championship Series” will provide an opportunity for Korean companies already operating in Saudi Arabia, or wishing to work there, for practical communication with Saudi Arabia.

The “Aramco Team Championship Series” is held in 5 countries annually, and this year’s edition was held in the United States, Britain, Singapore and Hong Kong.