The First Syrian-Korean Economic Forum opened in Damascus under the auspices of the Ministries of Foreign Affairs and Economy, in cooperation with the Embassy of the Republic of Korea and the Korea Trade-Investment Promotion Agency (KOTRA).
Hana Kim, Oman Office KOTRA Director, stated that the event serves as an important platform for formal economic exchange between Korea and Syria since the establishment of diplomatic relations. She congratulated all those working toward building a new Syria.
Kim noted cooperation between the two countries spans many years, with KOTRA playing a significant role in strengthening economic relations. KOTRA’s optimism was further emphasized, regarding “the dawn of a new era of peace in Syria” and Kim expressed gratitude to everyone who contributed to organizing the forum. The agency remains committed to enhancing communication with Syrian institutions and companies to identify areas of cooperation and support joint initiatives.
SHINE Initiative ‘for Shared Growth’
Chung Kwang-yong, Director-General of the African and Middle Eastern Bureau, highlighted Syria’s strategic location and its potential to serve as a hub for regional cooperation in trade, energy, and infrastructure. He acknowledged that Syria stands at a pivotal moment as it pursues reconstruction, development, democracy, and diversity, affirming Korea’s support for such efforts.
The SHINE Initiative, was presented to the gathering by Chung, who said it was designed to “promote shared growth between Korea and the Middle East,” positioning Syria as a key partner in its implementation.
Syrian Minister of Economy Nidal al-Shaar praised Korea’s developmental model as an example of resilience and transformation, noting its rise from a war-torn nation to an industrial power. He identified three key areas for strategic cooperation.
Advanced industries and technology transfer, renewable energy and smart infrastructure, and education and training. Shaar stressed the importance of building a cohesive and long-term partnership rather than isolated projects, pointing to Syria’s ongoing efforts to stabilize its economy and improve export capabilities.
Syrian Sovereign Fund’s Vision
Waleed Sahhari, Director at the Syrian Company for Automotive Industry (SCAI Holding), part of the Syrian Sovereign Fund, explained that the Fund’s vision is to position Syria as a regional hub and an influential player in the global automotive ecosystem. He stated its mission focuses on establishing a sustainable automotive industry by localizing production, attracting investment, and developing a skilled workforce to support a competitive mobility sector in the decades ahead.
The forum demonstrated a notable level of openness and forward-looking dialogue from both Korean and Syrian participants. Korean companies, including several visiting Damascus for the first time, expressed genuine interest in exploring opportunities in infrastructure, energy, ICT, industry, and other essential sectors. Syrian ministries, institutions, and economic leaders provided insight into national priorities and the frameworks shaping future cooperation. These discussions conveyed a clear message that Syria and Korea are embarking on a joint path that transcends current challenges and looks toward a future defined by partnership, resilience, and shared prosperity.
