Hanjin CEO to Head Korea-S. Arabia Council
By Kim Rahn
Staff Reporter
Hanjin Group Chairman Cho Yang-ho has been chosen to head the Korea-Saudi Arabia Business Council.
Cho is also the chief of the board of directors of S-Oil, of which Hanjin is the largest shareholder.
Founded in 1998 by the Korea Chamber of Commerce and Industry, the council has contributed to economic cooperation between the two countries through joint meetings and exchange of businesspeople.
Saudi Arabia is the biggest source of Korea's oil imports and Korea's biggest business partner in the Middle East.
The council plans to hold investment seminars and joint meetings in Seoul this year for active resource diplomacy as a private sector-level effort. It will also support Korean companies' advancement into Saudi Arabia and help Korea stably secure oil through cooperation with companies and government organizations working in the Middle East.
Cho was also head of the business council between Korea and Canada, and has been chairman of the Korea-France High-Level Businessmen's Club since October 2000.