As Qatar is gradually increasing its investment in Carbon Capture, Usage and Storage (CCUS) and has a climate environment suitable for solar energy generation, the country has great potential for blue and green hydrogen production, the Korea Institute for International Economic Policy (KIEP) has said.
During the 2022 Korea-Qatar Business Forum held in Doha recently, KIEP senior researcher Kwangho Ryou delivered an online presentation along the lines of the forum’s theme ‘Future Strategy for Diversifying Economic Co-operation Between South Korea and Qatar’.
The business forum was organised by the South Korean embassy and the Ministry of Commerce and Industry, in cooperation with Korea Trade-Investment Promotion Agency (Kotra), Qatar Chamber, and Invest Qatar.
Ryou presented several topics, which include South Korea’s investments in Qatar and contracts awarded from the country, as well as possible co-operation sectors in various fields like petrochemicals, renewables and food security, food security rankings in Mena, and military equipment and hydrogen, among others.
According to Ryou, hydrogen is one of the industries that have “a big potential for cooperation expansion.” He said Qatar signed MoUs for co-operation with advanced technological countries with South Korea and Germany, “but there is still no government-led development plan yet.”
Ryou pointed out that co-operation opportunities in the field of logistics infrastructure building also could be created in the future.
Similarly, there is huge potential for co-operation expansion between both countries in military equipment, Ryou stressed, noting that South Korean military equipment “is considered technologically advanced but not as expensive as other nations like the US.”
“South Korea’s export of military equipment is increasing dramatically in recent years, and stable South Korea-Qatar diplomatic relations could be a good condition for co-operation in this field,” he stressed.
Ryou also said trade, technology exchange, and infrastructure building in the petrochemicals sector may open “huge possibilities” for Qatar’s economy in the long term.
“Qatar’s interest in the petrochemicals sector has been growing at a faster pace in recent years. Developing the petrochemicals sector is one of the clear trends of economic diversification in the GCC,” he explained.
Ryou noted that renewables and food security, in which Qatar has placed high interest, are sectors that South Korea has global competitive advantages.
“On environment development under Qatar National Vision 2030, it is possible to enhance generation efficiency thanks to the geographical features of Qatar. The winning of Samsung C&T for two solar power plants in August this year is an encouraging factor.
Ryou said South Korea would be a reliable partner in Qatar’s national food security strategies like domestic self-sufficiency and the domestic market, as well as in infrastructure building and technology exchange in the field of smart farming, greenhouse, and water security.
“A tripartite cooperation is also possible in Qatari-owned agricultural lands in other countries,” Ryou emphasised.
During the forum, Shelldince Victor, senior manager – Business Development at Kotra, also delivered a presentation. He said Kotra is the centre of economic development in South Korea, stressing that the agency has been playing a key role in the further enhancement of South Korea-Qatar relations.
Among its major businesses, Victor said Kotra specialises in global marketing and global partners, inbound investment promotion, outbound investment support, sustainable growth, and global market information.
“Kotra delivers customised marketing services and opportunities to South Korean small and medium-sized enterprises (SMEs) for the global market and finds the ideal partner to strengthen one’s global value chain.
“We play a vital role in positioning South Korea at the centre of global business. By creating an attractive investment environment and supporting domestic investments by foreign companies, Kotra raises the value of South Korea as a successful business partner,” Victor said.
He added: “Based on overseas investment information gathered from Korea Business Centres (KBCs) in 84 countries, Kotra supports South Korean companies by making their advancement overseas easier and more convenient.”
During the 2022 Korea-Qatar Business Forum held in Doha recently, KIEP senior researcher Kwangho Ryou delivered an online presentation along the lines of the forum’s theme ‘Future Strategy for Diversifying Economic Co-operation Between South Korea and Qatar’.
The business forum was organised by the South Korean embassy and the Ministry of Commerce and Industry, in cooperation with Korea Trade-Investment Promotion Agency (Kotra), Qatar Chamber, and Invest Qatar.
Ryou presented several topics, which include South Korea’s investments in Qatar and contracts awarded from the country, as well as possible co-operation sectors in various fields like petrochemicals, renewables and food security, food security rankings in Mena, and military equipment and hydrogen, among others.
According to Ryou, hydrogen is one of the industries that have “a big potential for cooperation expansion.” He said Qatar signed MoUs for co-operation with advanced technological countries with South Korea and Germany, “but there is still no government-led development plan yet.”
Ryou pointed out that co-operation opportunities in the field of logistics infrastructure building also could be created in the future.
Similarly, there is huge potential for co-operation expansion between both countries in military equipment, Ryou stressed, noting that South Korean military equipment “is considered technologically advanced but not as expensive as other nations like the US.”
“South Korea’s export of military equipment is increasing dramatically in recent years, and stable South Korea-Qatar diplomatic relations could be a good condition for co-operation in this field,” he stressed.
Ryou also said trade, technology exchange, and infrastructure building in the petrochemicals sector may open “huge possibilities” for Qatar’s economy in the long term.
“Qatar’s interest in the petrochemicals sector has been growing at a faster pace in recent years. Developing the petrochemicals sector is one of the clear trends of economic diversification in the GCC,” he explained.
Ryou noted that renewables and food security, in which Qatar has placed high interest, are sectors that South Korea has global competitive advantages.
“On environment development under Qatar National Vision 2030, it is possible to enhance generation efficiency thanks to the geographical features of Qatar. The winning of Samsung C&T for two solar power plants in August this year is an encouraging factor.
Ryou said South Korea would be a reliable partner in Qatar’s national food security strategies like domestic self-sufficiency and the domestic market, as well as in infrastructure building and technology exchange in the field of smart farming, greenhouse, and water security.
“A tripartite cooperation is also possible in Qatari-owned agricultural lands in other countries,” Ryou emphasised.
During the forum, Shelldince Victor, senior manager – Business Development at Kotra, also delivered a presentation. He said Kotra is the centre of economic development in South Korea, stressing that the agency has been playing a key role in the further enhancement of South Korea-Qatar relations.
Among its major businesses, Victor said Kotra specialises in global marketing and global partners, inbound investment promotion, outbound investment support, sustainable growth, and global market information.
“Kotra delivers customised marketing services and opportunities to South Korean small and medium-sized enterprises (SMEs) for the global market and finds the ideal partner to strengthen one’s global value chain.
“We play a vital role in positioning South Korea at the centre of global business. By creating an attractive investment environment and supporting domestic investments by foreign companies, Kotra raises the value of South Korea as a successful business partner,” Victor said.
He added: “Based on overseas investment information gathered from Korea Business Centres (KBCs) in 84 countries, Kotra supports South Korean companies by making their advancement overseas easier and more convenient.”
