South Korea president leaves for Kuwait on Middle East tour

South Korean President Park Geun-hye left for Kuwait on Sunday on a nine-day, four-nation trip to the Middle East expected to focus on wide-ranging economic cooperation beyond energy and construction, Yonhap News Agency reported.
The trip, which will also take Park to Saudi Arabia, the United Arab Emirates (UAE) and Qatar, comes as Seoul is pushing to capitalize on the "second Middle East boom" as a new growth engine for South Korea's export-dependent economy, it said.
South Korea hopes that its companies can participate in big industrial and infrastructure projects being pushed by Middle East countries as they seek to diversify their economic portfolios ahead of the inevitable advent of a post-oil era amid a recent plunge in crude prices.
In Kuwait, Park is set to meet with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to discuss ways to strengthen cooperation in the fields of energy, construction, healthcare and communication technology, Presidential Office said in a news release. She will then fly to Riyadh on March 3 for a two-day visit that will include a meeting with Saudi Arabia's newly enthroned King Salman bin Abdul-Aziz Al Saud, who took helm of power following death of his brother and king, Abdullah. The two leaders are also expected to discuss ways to boost cooperation in energy, construction, healthcare and communication technology, it said.
South Korea, the world's fifth-largest crude oil buyer, relies entirely on imports for its oil needs. Saudi Arabia accounts for about one-third of South Korea's total imports of crude oil.
The trip will also take Park to the UAE and Qatar for separate talks with Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan and Qatar's Amir Sheikh Tamim bin Hamad al-Thani. Cooperation in energy, construction and healthcare are also expected to be their major topics.
Oil-rich Middle Eastern countries have long been a major source of revenues for South Korean builders for decades, which in turn has helped the Asian nation cope with economic difficulties. Healthcare has emerged as a new promising area of cooperation between South Korea and Middle East countries.