Saudi Arabia and South Korea Move to Launch AI and Startup Investment Fund

Saudi Communications Minister Abdullah Al-Swaha and South Korean officials are deepening bilateral cooperation in artificial intelligence, semiconductors, digital identity, and startup investment through high-level meetings in Seoul that aim to launch a joint venture fund within the year. The discussions included direct talks with leaders from Samsung Electronics and SK Group to expand partnerships in AI infrastructure, 6G technologies, and data centers, while also addressing Saudi Arabia’s request to localize advanced technologies and develop national capabilities. A key focus is establishing a Korea-Saudi joint fund between Korea Venture Investment Corporation and Riyadh Valley Company to invest in deep tech startups, alongside efforts to connect Saudi entrepreneurs with Korean expertise in AI and software. This strategic push supports Saudi Vision 2030’s diversification goals and marks South Korea’s first full-stack AI export to Saudi Aramco, signaling a shift from traditional energy trade to a technology-driven economic alliance that affects both nations’ digital economies and startup ecosystems.