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Kuwait seals deal with KNOC to store Kuwaiti crude oil in Korea

His Excellency Chong-Suk Park, the Ambassador of the Republic of Korea to Kuwait, said the country currently imports about 100 million barrels annually from the Gulf nation.

H. E. Chong-Suk Park, the Korean Ambassador, noted during the National Foundation Day and Armed Forces Day celebration that this year marks the 45th anniversary of diplomatic relations between Korea and Kuwait, as well as the 60th anniversary of energy cooperation.

• In 1964, Korea imported 330,000 barrels of crude oil from Kuwait, which was vital for developing Korea’s heavy chemicals industry, the ambassador said.

The Times Kuwait Report

His Excellency Chong-Suk Park, the Ambassador of the Republic of Korea, emphasized the strong bilateral relations between the two countries across various fields and expressed South Korea’s eagerness to collaborate in advancing Kuwait’s Vision 2035 through partnership.


This was stated in his speech during the celebration of National Foundation Day and Armed Forces Day of the Republic of Korea, attended by Abdullatif Hamed Hamad Al-Meshari, Minister of State for Municipal Affairs and Minister of State for Housing Affairs, along with a large number of Arab and foreign ambassadors and diplomats accredited to the country, as well as a significant crowd of citizens and residents.

Ambassador Park stated, “This year marks the forty-fifth anniversary of the establishment of diplomatic relations between the Republic of Korea and the State of Kuwait, as well as the sixtieth anniversary of cooperation in the energy sector. In 1964, Korea imported 330,000 barrels of crude oil from Kuwait, which laid the cornerstone for the development of our country’s heavy chemicals industry.”

He added, “Korea currently imports about 100 million barrels annually, and recently, the Kuwait Petroleum Corporation signed a memorandum of understanding with the Korea National Oil Corporation to store crude oil in Korea.”

The Korean ambassador pointed out that as cooperation in the energy sector began, the activities of Korean construction companies also expanded in the local Kuwaiti market. He noted, “After signing the first contract in 1975, Korean companies participated in the construction of the first and sixth ring roads, Highway 30, Shuaiba Port, clean fuel projects, the Al-Zour Refinery Project, power stations, and the Sheikh Jaber Bridge, a prominent landmark in Kuwait that was opened in 2019.”

Kuwait opened its first fiber optic cable factory in cooperation with Korea a few weeks ago

He discussed recent areas of cooperation between the two countries, including airport operations, medical treatment, the construction of new cities, and smart farms. He mentioned that Kuwait opened the first fiber optic cable factory in cooperation with Korea a few weeks ago, which is expected to strengthen the Internet infrastructure in Kuwait. He also highlighted the importance of cultural exchanges that create a world of unlimited possibilities.

More than 2,000 Kuwaiti citizens visited Korea in the first half of 2024

The ambassador noted that more than 2,000 Kuwaiti citizens visited his country in the first half of this year, which he considered a significant increase compared to the average annual number of visitors, which was 3,500 Kuwaiti citizens before the COVID-19 pandemic.

Regarding cooperation in the fields of education and culture, Ambassador Park said, “In October 2023, we established the King Sejong Institute, a center for teaching the Korean language, in cooperation with Kuwait University. There are about 200 people learning the Korean language and culture at this center.

Ten Korean students come to Kuwait every year
He added, “Ten Korean students come to Kuwait every year under the Kuwaiti government scholarship program. They not only learn Arabic but also communicate with other students at Kuwait University, serving as a starting point for strengthening bilateral cooperation in the future.”



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