Anchor: President Moon Jae-in and Crown Prince of Saudi Arabia Mohammad Bin Salman held a meeting at the presidential office in Seoul. They agreed to boost their countries' collaboration in energy projects and future industries. 

Kim Bum-soo reports.

Report: 

[Sound bite: Welcoming reception for Crown Prince of Saudi Arabia (June 26/Presidential office)]

The South Korean government held a grand welcoming ceremony for the crown prince of Saudi Arabia. It is the first visit to South Korea by a Saudi crown prince since 1998.

President Moon Jae and the heir presumptive to the Saudi throne, Mohammad Bin Salman, held a full-fledged meeting at the top office Wednesday, agreeing to expand their traditional partnership in the area of energy and future industries to new levels. 

[Sound bite: President Moon Jae-in (Korean)] 
"South Korea is a strategic partner for Saudi Arabia's 'Vision 2030' and the two sides are expanding the horizon of their cooperation from the existing construction and energy sectors to information and communication technologies, smart-infrastructure development as well as defense, defense industry, health and welfare and education."  

[Sound bite: Crown Prince of Saudi Arabia Mohammad Bin Salman (Arabic)]
"Saudi Arabia has established the historically important reform program 'Vision 2030.' This is an ambitious plan to transform our country structurally."     

Following the bilateral talks, business leaders of South Korean conglomerates, including Samsung Group's heir apparent, Vice Chairman Lee Jae-yong of Samsung Electronics, LG Group Chief Executive Koo Kwang-Mo and vice chairman Chung Eui-sun of Hyundai Motor Company, all joined a luncheon held for the Saudi crown prince.      

Samsung and LG's advanced IT and Hyundai's hydrogen automotive technologies are all potential areas of cooperation between South Korea and Saudi Arabia. 

In 2016, the crown prince announced a set of measures dubbed "Vision 2030" to reduce Saudi Arabia's dependence on oil and to diversify its economy centered on ICT. 

Moon highlighted similarities between "Vision 2030" and his administration's vision for an innovative inclusive nation, adding they are seeking ways to expand cooperation beyond construction and energy, to ICT, defense and health care.

Seoul and Riyadh established diplomatic ties in 1962. Saudi Arabia is now South Korea's biggest trading partner in the Middle East, number one destination for South Korean firms' overseas construction projects in the region and the leading crude oil exporter to the Northeast Asian country.
Kim Bum-soo, KBS World Radio News.