Saudi Arabia and CJ Group aim to leverage their strengths in the culture industry to create unique synergies
CJ Group Chairman Lee Jay Hyun made a three-day visit to Saudi Arabia. The visit was organized by the Saudi Ministry of Culture. During the visit that began on September 4, Chairman Lee engaged in a series of high-level meetings with key officials of the Saudi government that drive the “Saudi Vision 2030,” including the heads of the Ministry of Culture, the Ministry of Tourism and the General Entertainment Authority (GEA), where he discussed opportunities of bilateral cooperation in various cultural sectors.
Saudi Vision 2030 is an ambitious blueprint to create a diversified, innovative and thriving nation. Deeply rooted in its cultural heritage, the vision reflects the Kingdom’s commitment to fostering a thriving economy, and ambitious nation and vibrant society.
CJ Group has consistently forged friendly ties with Riyadh where it successfully hosted its iconic K-pop event KCON for two years in a row in partnership with the Saudi Ministry of Culture. The Chairman also had a meeting with Saudi Crown Prince Mohammed bin Salman Al Saud during his visit to Korea back in 2022. “CJ Group has been maintaining a close partnership with Saudi Arabia especially in the cultural sectors and this visit to Riyadh can be a new opportunity for the company,” said a CJ Group official.
Saudi Arabia’s Ministry of Culture also extended an invitation to visit the ancient city of AlUla where the CJ delegation toured AlUla Studios, a film production studio with a 25,000-square-foot sound stage, and explored ways to leverage local infrastructure to collaborate on content creation and tourism.
“I was deeply impressed by the potential and depth of Saudi culture,” said Chairman Lee in the high-level meetings and emphasized, “When CJ Group’s business knowhow in culture, entertainment and music are brought together with Saudi’s cultural potential, we can create unique synergies in the global market.”
CJ Group seeks to develop additional business opportunities in the MENA market with population of almost 600 million, with focus on Saudi Arabia with strong growth potential and state support. CEO of CJ ENM Yoon, Sang-hyun noted that “CJ Group plans to expand its business in the Middle East through a strategic partnership with Saudi Arabia.”
