President Yoon Suk Yeol said Tuesday the defense industry cooperation between South Korea and Saudi Arabia will play a pivotal role in advancing the two countries' relations in a broad range of fields.

Yoon called the oil-rich country a "key partner" for South Korea's economy and energy security during a meeting with Abdullah bin Bandar Al Saud, Saudi minister of the National Guard, at the presidential office.

"The defense collaboration between the two countries would not only strengthen Saudi Arabia's defense capabilities but deepen bilateral ties," Yoon said, describing South Korea as a "best partner" for Saudi Arabia capable of cooperation across various areas.

Abdullah evaluated that the defense cooperation between the countries was already at a high-level, and shared that he could witness South Korea's advanced weapons systems during the South Korean Army's fire-power demonstrations and displays of weapons systems earlier in the day, according to the office.

Ahead of the meeting, Abdullah observed an integrated firepower drill and displays of weapons systems, including the K9 self-propelled howitzer and K2 tanks, and held talks with Defense Minister Kim Yong-hyun on defense and security cooperation.

In November 2023, South Korean defense company LIG Nex1 signed a $3.2 billion deal to supply 10 Cheongung mid-range surface-to-air missile block II systems.

In addition, the state-run Korea Electric Power Corp. has been shortlisted for major renewable energy projects in Saudi Arabia estimated at 3 trillion won. ($2.17 billion)

As minister of the National Guard, Abdullah oversees a specialized military branch responsible for internal security, protection of the royal family and safeguarding key sites, including the holy cities of Mecca and Medina and important oil fields.

The National Guard operates separately from Saudi Arabia's Ministry of Defense and has its own budget, forces and command structure.