[Kim Jae-min, Blockchain Today] On May 19, Chairman Bruce Jeo =ng of Middle East Investment received the Foreign Company Attraction Contribution Award from the SAMI, a Saudi Arabian Government agency. According to the SAMI, this is the first time an Asian is awarded this award. This contribution award recognizes the effort in the contribution to the SAMI attracting foreign companies to facilitate the development of Saudi Arabian industries.
SAMI (Saudi Arabian Military Industries) is a state enterprise owned by Saudi Arabia and a government agency responsible for developing the defense industry in Saudi Arabia.
Bruce Jeong, chairman of Middle East Investment and vice chairman of LCM Energy Solution, currently does business in various industries in collaboration with private placement funds and sovereign wealth funds in the Middle East.
He is especially active in the Saudi Arabia Electrical Vehicle Free Zone business together with Japan, India, Singapore, South Korea, China, and the United States. He is making efforts to diversify the economies of the GCC region and develop technology in the area and is planning to invest in the defense industry and renewable energy after visiting the SAMI this time.
Also, after his visit to the SAMI, a Saudi Arabian delegation consisting of the Saudi Arabian Defense Department, ARAMCO, the company responsible for the LNG project, and the CEO of the SAMI will visit Korea. During the visit, they will survey the head office and Naju Factory of LCM Energy Solution and discuss the ways to enter the Saudi Arabian market with people from companies in the Korean defense industry and government officials.
Also, they will select excellent Korean defense industry companies to support them in entering the Saudi Arabian market and present a program connecting them to PIF investments. People hope that this program will contribute in developing the partnership between the two countries.
Mr. Jeong will visit Neom City, in which the foundation work is being laid at this moment, and introduce Korean companies.
By Kim Jae-min
