SparkLabs, an investment company based in Korea, is hosting a seminar titled “Saudi Arabian Market Entry Strategy Seminar” aimed at professionals interested in expanding into the Saudi market. The event will take place on the 19th at Seoul’s DreamPlus Gangnam Center.

This seminar, organized by SparkLab and supported by DreamPlus, is designed to offer valuable insights and information about the Saudi market, which is making strides in cutting-edge sectors such as IT, content, and artificial intelligence (AI). The goal is to equip Korean entrepreneurs and investors with the knowledge they need to succeed in this rapidly evolving market.

The event will be split into two parts. In the first session, Majed Alayed, a prominent figure from the Saudi Investment Department and making his first appearance in Korea, will cover topics such as the startup and investment ecosystem in Saudi Arabia, the regulatory landscape, current trends in attracting investment to foreign startups, and various support measures for fostering a conducive investment climate. This will also provide a platform for dialogue with attendees involved in startups.

The second part of the seminar will feature Woonghee Lee, CEO of H2O Hospitality, a standout global hospitality tech firm in the Middle East and an alum of SparkLab’s 6th cohort. Lee will discuss his firsthand experiences breaking into the Middle East and share the strategies that led to successful fundraising efforts.

H2O Hospitality has already forged investment agreements with departments in the UAE and Saudi Arabia and is now an official partner in Saudi Arabia’s ambitious Red Sea Project, a KRW 40 trillion national tourism development initiative.

Yujin Kim, CEO of SparkLab, highlighted the keen interest of Korean startups in the Middle Eastern market, driven by the booming IT investment sector. However, Kim also noted the significant gap in practical information about the startup ecosystem and investment trends in the region. “With government officials from Saudi Arabia and successful entrepreneurs as our guests, we hope the seminar will provide attendees with an abundance of useful information,” Kim said.