President Yoon Suk Yeol is set to meet with Saudi Arabian Crown Prince Mohammed bin Salman, who arrived in South Korea early Thursday for an official visit.

The presidential office said that Yoon will hold talks and have lunch with the crown prince on Thursday, with the leaders expected to exchange opinions on bilateral cooperation in various sectors including infrastructure, defense and nuclear power plants.

The president is likely to ask the Middle Eastern country to allow South Korean businesses to participate in NEOM City, a 500 billion dollar infrastructure project to develop an eco-friendly and smart city in Saudi Arabia's northwestern Tabuk Province near the Red Sea.

President Yoon is also scheduled to meet with Prime Minister Mark Rutte of the Netherlands for summit talks on Thursday at the presidential office.

The two leaders plan to discuss bilateral cooperation in the semiconductor, electric vehicle and renewable energy industries.