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Korea seeks to attract investment from Saudi oil money

Saudi Arabia s sovereign wealth funds seek investment opportunities in Korea, particularly in the area of gaming and cultural sectors, as they paid a visit to Korea this week. According to the Seoul Metropolitan Government, the city and “Invest Seoul ― the metropolitan government s investment arm ― invited key officials of two Saudi sovereign wealth funds to stay in Seoul from Monday to Thursday this week. The invitation aims to show the appeal of local competitive startup businesses to the Saudi wealth fund officials, hoping to attract investments from them. This is the first time that the Seoul city government invited the two Saudi sovereign wealth funds ― Public Investment Fund (PIF) Jada and Saudi Venture Capital (SVC). Led by Crown Prince Mohammed bin Salman, Jada focuses on various sectors, including IT, finance, gaming and real estate. SVC is a state-run investment firm that supports venture and startup businesses. ....

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