TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
TFIGlobal
TFIGlobal
No Result
View All Result

South Korea begins replacing China in the Middle East, one region at a time

Akshay Narang by Akshay Narang
January 20, 2022
in Geopolitics
Reading Time: 3 mins read
0
south korea, china, saudi arabia, middle east
223
VIEWS
Share on FacebookShare on Twitter
Become a Patron!

Till only recently, China seemed invincible in the Middle East. The country managed to get involved in Riyadh’s ballistic missiles development program, amidst deteriorating US-Saudi ties. And the country has also managed to come close to Iran with a $400 billion agreement that would allow China to access a secure supply of oil from the Shi’ite country. 

Read more: Alienated by the US, Saudi Arabia is developing ballistic missiles with China

Also Read

Iran on its way out of Lebanon as Christian party defeats terror outfit Hezbollah in elections

Li Keqiang could be the next President of China

You would think that you have won over the Middle East if you have managed to woo both Tehran and Riyadh, because these two rival powers wield considerable influence in the region. But China is now getting replaced in the region by one of its old enemies- South Korea. 

South Korea and China- an old hate story

South Korea is one of the biggest enemies of China. For decades, Beijing has been blackmailing Seoul with its client state- North Korea. China has used Pyongyang as an indirect nuclear threat against South Korea. 

Read more: After turning Russia-Ukraine border into a warzone, Biden brings Korean Peninsula at the brink of a big war

And then, China also stakes a claim on Seoul’s Exclusive Economic Zone (EEZ) in the Yellow Sea. So, it makes a lot of sense for Seoul to replace China in the Middle East and settle scores.  

South Korea starts talking to Gulf powers

With an eye on China, Seoul will resume free trade agreement talks with the Gulf Cooperation Council (GCC) in the first quarter of this year. Nearly 12 years ago, the talks between South Korea and the GCC, an alliance of six Middle East nations, were halted.

On the occasion of South Korean President Moon Jae-in’s visit to Saudi Arabia, the two countries agreed to resume free trade agreement talks. The decision was announced by Korea’s Minister for Trade Yeo Han-Koo and GCC Secretary-General Nayef Falah M. Al-Hajraf.

Seoul is starting its Middle East outreach with the six-nation alliance that remains its key trading partner in the Middle East. GCC-South Korea trade stood at $46.6 billion in 2020, and accounted for 78 percent of the country’s trade with the region.

Seoul to pull the Middle East out of Beijing’s clutches

Moon knows that China wants to monopolise the Middle East economy, by grabbing a lion’s share in its oil exports industry. Moon, therefore, noted efforts by GCC nations to diversify their oil-dominated industrial portfolio.

The South Korean President is the promising establishment of future-oriented businesses in the region and access to Seoul’s next-gen tech capabilities that would help change the fundamental character of GCC nations’ oil-dominated economy. Seoul can help Middle East nations gain access to a diversity of sectors like hydrogen, renewable energy and healthcare.

LG to establish regional headquarters in Riyadh

South Korea and GCC have just started talking about a free trade agreement. A deal hasn’t been struck till now. But Korean businesses are already looking to establish a presence in the region. 

South Korea’s LG Corp is planning to establish its regional headquarter in Riyadh. With the electronics giant establishing itself in Riyadh, South Korea is trying to improve its ties with the world’s top oil exporter and the kind of the Arab world- Saudi Arabia.

Riyadh was getting somewhat restless with the emergence of its long-time ally, the United Arab Emirates, as a regional business hub. Saudi Arabia felt that it was lagging behind in the region and therefore it had also issued an ultimatum to global corporate giants- establish headquarters in Saudi Arabia by 2023 or risk losing out on government projects. 

Seoul grabbed the opportunity and with LG establishing headquarters in Riyadh, South Korea can tell Saudi Arabia that it actually wants to help the Arab Kingdom develop into a diversified economy. 

Tags: ChinaSaudi ArabiaShort takesSouth Korea
ShareTweetSend
Previous Post

Is the time for the House of Sauds over?

Next Post

Britain is at its weakest, in 415 years of its existence

Also Read

An Islamist bomb has exploded in the Caribbeans

An Islamist bomb has exploded in the Caribbeans

May 17, 2022
Biden got so consumed by Ukraine war that he failed to notice Putin’s advances in other strategic locations

Biden got so consumed by Ukraine war that he failed to notice Putin’s advances in other strategic locations

May 17, 2022
Mission Syria: Biden is out to fulfil Obama’s unrealized dreams

Mission Syria: Biden is out to fulfil Obama’s unrealized dreams

May 16, 2022
Scholz likely to get replaced in Germany after SPD suffers Historic defeat in its forte

Scholz likely to get replaced in Germany after SPD suffers Historic defeat in its forte

May 16, 2022
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
Europe to activate Nord Stream 2 gas pipeline very soon   

Europe to activate Nord Stream 2 gas pipeline very soon  

May 14, 2022
Qatar scraps its LNG deal with Germany at the last minute citing new conditions

Qatar scraps its LNG deal with Germany at the last minute citing new conditions

May 11, 2022
‘Slovakia’s food is for Slovakians,’ Slovakia’s trade restrictions leave EU fuming

‘Slovakia’s food is for Slovakians,’ Slovakia’s trade restrictions leave EU fuming

May 14, 2022
The Bill Gates connection behind the dire baby formula shortages in the US

The Bill Gates connection behind the dire baby formula shortages in the US

May 13, 2022
South Korea is demolishing Chinese dominance in critical minerals

South Korea is demolishing Chinese dominance in critical minerals

May 10, 2022
Europe to activate Nord Stream 2 gas pipeline very soon   

Europe to activate Nord Stream 2 gas pipeline very soon  

Iran on its way out of Lebanon as Christian party defeats terror outfit Hezbollah in elections

Iran on its way out of Lebanon as Christian party defeats terror outfit Hezbollah in elections

After debt-trapping Africa, China “ship-traps” the US

After debt-trapping Africa, China “ship-traps” the US

European Union comes up with a clever plan (to bypass its own sanctions on Russia)

European Union comes up with a clever plan (to bypass its own sanctions on Russia)

One of the deadliest snipers of the world exposes Ukraine’s ‘We are winning’ façade

One of the deadliest snipers of the world exposes Ukraine’s ‘We are winning’ façade

An Islamist bomb has exploded in the Caribbeans

An Islamist bomb has exploded in the Caribbeans

May 17, 2022
Biden got so consumed by Ukraine war that he failed to notice Putin’s advances in other strategic locations

Biden got so consumed by Ukraine war that he failed to notice Putin’s advances in other strategic locations

May 17, 2022
Mission Syria: Biden is out to fulfil Obama’s unrealized dreams

Mission Syria: Biden is out to fulfil Obama’s unrealized dreams

May 16, 2022
Scholz likely to get replaced in Germany after SPD suffers Historic defeat in its forte

Scholz likely to get replaced in Germany after SPD suffers Historic defeat in its forte

May 16, 2022
Iran on its way out of Lebanon as Christian party defeats terror outfit Hezbollah in elections

Iran on its way out of Lebanon as Christian party defeats terror outfit Hezbollah in elections

May 16, 2022
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2022 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa

©2022 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.