Seoul, South Korea- On February 20, 2012, President Lee Myung-bak addressed the Korean nation with reports of his trip to the Middle East. He reassured the Korean people that they should not worry about our oil supply because of the Middle East instability. He also explained that Saudi Arabia, Qatar and the UAE reached an agreement with South Korea stating they would be the oil supplier despite outside crises. He also explained the ties between South Korea and Turkey.
Bak said that Turkey produced a “high annual growth rate of 8 to 9 percent in recent years despite global economic difficulties.” He went on to say that this Turkey played an important role in North Africa and the Middle East, and had the potential to become one of the most successful economies in the world by 2023. He also stated that Korean companies may have much success in doing business with Turkey.
“Moreover, an MOU was signed to pave the way for awarding an exclusive contract to Korea for the Absin thermal power plant construction project in the amount of US$11 billion. Negotiations to build a nuclear power plant, which are currently underway with Toshiba of Japan, will resume with Korea as well,” he said.
During his trip to Turkey, Jaejoong, a member of the Korean pop group JYJ, traveled there at the same time. Jaejoong stated "I was surprised by the fact that there are so many people who can speak Korean fluently. It seemed that there is a lack of venues for Turkish people to experience Korean culture firsthand. I believe exchanges between young people, in addition to between countries, are essential."
The combined budgets earned for the new national development plans by Saudi Arabia, Qatar and the UAE exceed US $600 billion. Those countries are now making significant investment strategies in many areas, including construction, education, health care, and national defense. Therefore this provides new strides in business for potential Korean companies.
Times have changed in the Middle East since the filming of Lawrence of Arabia, and it is no longer viewed as just a stretch of desert with no means of transportation except by camel. They now have advanced railways, airports and road systems. Bak met a young Korean woman residing in Qatar and while conversing with her, she stated:
"The conditions for Korean employees have improved a lot. It is a fact that young Korean workers are worried about being dispatched to the Middle East because of the differences in culture and climate. But it should be noted that the region is emerging as a big market in a variety of ways. I think that more and more young people should come here." (Choe Jin-woo, a construction company employee).
Bak concludes by saying how he hopes that young Koreans will jump on this opportunity in the Middle East to enable them to be global leaders on behalf of Korea.
