On December 29 last year, Global Hub (Chairman Mohamed Al-Agueli), a local Saudi Arabian company that is in coordination with Saudi Authorities to work on EV Free Zone ecosystem, signed a MOA with Middle East Investment in Riadh, the capital of Saudi Arabia.
On top of that Bruce Jeong has been doing Blockchain business at Evolt Foundation as a Principal since last month.
Bruce will be going to make a business MOA with LCM ENERGY SOLUTION due to the Evolt Foundation's electric vehicle software systems and technology
After the 1st, 2nd and 3rd video conferences, the number of Korean large and medium-sized companies participating in this project is increasing. After the Ramadan period, Delegation, which represents Korean companies, is preparing for its second visit to Saudi Arabia to execute a second round of discussion and organize a work shop and conference concerning the EV Technology Smart Park, Free Zone.
In addition to the above, a Saudi business delegation visited Korean electric vehicle parts companies in February, and as a follow-up measure, Korean participating companies visited Saudi Arabia on March 9th.
The Korean delegation visited and consulted with relevant government agencies, including the Saudi Arabian Investment Authority, the NIDC, the Ministry of Industry and MISA.
During this visit to Saudi Arabia, a number of EV light commercial EV, battery, cell related and EV parts companies participated in the EV Free Zone, starting with LCM Energy Solutions, which was selected as the mother company of the Korean delegation.
Saudi Arabia's EV Free Zone was initially planned to create an EV Free Zone in Neom City, but it is currently being promoted as a national project due to the high proportion of electric vehicles in the Saudi government.
The Kingdom of Saudi Arabia is the beating heart of the whole world and Riyadh City will become the largest industrial city in the world. We will do our best to make this project a successful story in KSA and be inline with the Vision 2030 of His Royal Highness the Crown Prince Mohamad Bin Salman, Stated Dr. Muhammad Qassab, the Global Hub CEO.
LCM Energy Solutions, the Korean host company of this project, Hub , plans to visit Japan, China, India, the United States, and Norway sequentially to select companies participating in the Saudi Electric Vehicle Free Zone project after consulting with the Saudi Authorities and local partner Global Hub.
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