National Assembly speaker requests Kuwaiti envoy to support Korean firms

National Assembly Speaker Woo Won-shik, right, meets with Kuwaiti Ambassador to Korea Deyab Farhan Al-Rashidi at his office in Seoul, March 4. Courtesy of National Assembly Speaker's Office

National Assembly Speaker Woo Won-shik met with Kuwaiti Ambassador to Korea Deyab Farhan Al-Rashidi on March 4, urging Kuwait’s support to ensure that Korean companies operating in the Gulf nation continue to thrive despite recent domestic challenges.

In recent years, Korean companies have played a key role in Kuwait’s power sector, securing major contracts to expand the country’s energy infrastructure.

The meeting took place against the backdrop of a history of multi-billion-dollar construction contracts the Middle Eastern country awarded to Korean builders.

Several Korean conglomerates operate in Kuwait, mainly in the construction, energy and technology sectors. In 2016, a consortium led by Hyundai Heavy Industries won a $2.93 billion contract to build the Al-Zour North Independent Water and Power Plant, Kuwait’s first public-private partnership in the power and water sector.

In 2019, Doosan Heavy Industries & Construction secured a $561 million deal to construct the Shuaiba North Co-Generation Plant, designed to provide electricity and desalinated water to meet Kuwait’s growing demands.

In 2020, Samsung C&T Corp. won a $1.43 billion contract to build the Al-Dibdibah Solar Power Plant, set to generate 1.5 gigawatts of renewable energy as part of Kuwait’s efforts to diversify its energy sources.

During the recent meeting at the National Assembly in Seoul, Woo highlighted Korea’s democratic resilience, referencing the swift parliamentary decision to lift martial law just two and a half hours after its declaration.

“Korea’s democracy has a strong foundation, and our people have a long history of overcoming crises, from colonial rule and war to economic challenges,” Woo said. “I ask you to convey to your government and the international community that all procedures are proceeding in a stable and lawful manner.”

Woo also emphasized the deep economic and diplomatic ties between Korea and Kuwait, noting that the Gulf country is Korea’s fifth-largest crude oil supplier and third-largest overseas construction market.

“Since the establishment of our ‘Comprehensive, Future-Oriented, and Mutually Beneficial Partnership’ in 2007, our nations have strengthened ties through active high-level exchanges,” Woo said.

He also sought Kuwait’s support for the successful hosting of the APEC Summit in Gyeongju this fall.

In response, Ambassador Al Rashidi reassured Woo that Kuwait is closely monitoring Korea’s economic stability.

“We continue to inform our government that Korea’s economy remains stable,” Al Rashidi said. “We hope to see more Korean companies actively participating in energy, infrastructure, and other key sectors to achieve even greater success, and we will work toward that goal.”