In light of this, the two sides welcomed the signing of a number of memorandums of understanding and agreements of executive programs during the visit, including a MOU on cooperation in the fields of cars, an agreement of an executive program in the field of robot industry, a MOU in the field of information and communication technology and a MOU dealing with cooperation in the field hydrogen economy. 4 - The two sides expressed hope to augment cooperation expansion in the field of peaceful usage of nuclear energy as the Kingdom of Saudi Arabia has welcomed the participation of Korean companies in a bid for the first Saudi nuclear commercial energy generation station. The two sides also underscored the importance of continuing cooperation and building of human capacities in the field of research, nuclear advancement and organizational areas. Third: Expanding mutual investment: 5 - The two sides agreed to exert efforts to increase mutual investment for expanding investments which benefit the two sides, taking into consideration the required capabilities to expand mutual investment expansion which reflect the level of economic cooperation and size of trade between the two countries. They also agreed to work together to make the Kingdom's giant projects it was now developing, citing Red Sea Project, NEOM, and Al-Giddiya Entertainment, a success. 6 - HRH Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and President Moon Jae-in lauded the expansion of S-Oil company project and co-inaugurated the expanded project in which as much as $4.2 billion was invested to enhance the company's profitability and competitiveness capacity. The two sides welcomed that the company's focus for the coming period be oriented towards increasing the production of petrochemicals and investing a new technology known as transforming thermal crude into chemicals, developed by Saudi Aramco, citing that the investment size amounts to nearly $6 billion. 7 - President Moon Jae-in praised the interest of the Kingdom of Saudi Arabia in investment in the Republic of Korea, particularly in the fields of energy, refining and petrochemicals. The Saudi interest has recently resulted in Saudi Aramco's investment in Hyundai Oil Bank for oil refining as Saudi Aramco is seeking to expand the scope of its activities, particularly in the field of petrochemicals, thus reflecting the two countries' interest in expanding the joint investments. 8 - HRH Prince Mohammed bin Salman Al Saud lauded the increase in number of Korean investments and companies related to Saudi Arabia, noting the Korean companies contribution to the giant projects of the Saudi vision 2030, citing Hyundai for Heavy Industries contribution to King Salman Global Complex for Maritime Industries and Services in Ras Al Khair, and the contribution of the Korean Electricity for Energy in the basic energy project in the Kingdom of Saudi Arabia. --More 23:03 LOCAL TIME 20:03 GMT 0026 www.spa.gov.sa/w1127461