Author's Preface
PART 1. Saudi Arabia 2030
The Birth of the Saudi Kingdom and the Prosperity of the Oil Era
From Tribal Unification to Building the Kingdom
Oil Discovery and Early Development
The Weaponization of Oil and International Politics
Saudi Arabia's Changing Political-Economic Structure
Saudi Arabia's Growth Engines and Structural Change
The Structural Limits of an Oil-Dependent Economy
Progress and Challenges in Economic Diversification
Opportunities and Constraints for Foreign Companies
The Opportunities of Vision 2030
The Three Core Pillars of Vision 2030
Specific Goals and Focus Areas of the Post-Oil Economic Diversification Strategy
A Sector-by-Sector Analysis of Business Opportunities and Potential for Korean Companies
The NEOM Project and the Vision of Future Cities
The Background to NEOM's Creation and Its Core Projects
The Concept of a Tech-Innovation City Built on AI, Robotics, Smart Transportation, and Clean Energy
The Shift in Saudi National Identity and Industrial Structure that NEOM Presents
Strategies for Korean Companies to Participate in the NEOM Project
PART 2. Understanding the Power Structure and Political Dynamics
Saudi Arabia's Political System and Corporate Management
The 2017 Ritz-Carlton Affair
The Power Structure Within the Royal Family and How Companies Respond
The Aramco Model
Building a Political Risk Management System
Saudi Arabia's Military Power and Geopolitical Threats
Saudi Arabia as a Strategic Stronghold
The Paradox of Military Investment
The Shadow War with Iran
Corporate Survival Strategies
A New Security Paradigm: Battlefields Led by Cyber, Drones, and Unmanned Systems
New Security Threats in the Digital Age and Saudi Arabia's Response
The Evolution of the Cybersecurity System
Drone Defense and the Expansion of Unmanned Forces
Internal Control and the Corporate Dilemma
Corporate Response Strategies
PART 3. Religious Norms and the Legal System
Birthplace of Islam: The Beginning of Saudi Arabian History
The Prophet Muhammad and the Birth of Islam
Ottoman Rule and the Rise of the Wahhabi Movement
Centers of Islam: Mecca, Medina, and Islamic Leadership
Saudi Arabia's Religious Foundation: Wahhabism and Sharia Law
The Pilgrimage Economy and Business Opportunities
Practical Considerations for Business Operations
The Sharia-Based Legal System and Daily Life
The Origins of Sharia and Saudi Arabia's Legal Identity
Religious Obligations that Govern Daily Life
The Changing Reality of Saudi Arabia
Practical Guidelines Companies Need to Know
Restrictions on Religious Freedom and Corporate Social Responsibility
The Dilemma of the State Religious System
ESG Pressure and the Materialization of Reputational Risk
Striking a Strategic Balance as a Company
A New Dimension of Risk Management
PART 4. Sociocultural Codes and Change
Family- and Tribe-Centered Culture: The Importance of Relationships
Saudi Arabia's Family- and Tribe-Centered Value System
The Wasta System and Building Business Relationships
Harmonizing Tradition and Modernization: A Changing Society
Sharaf: Honor
Shuja: Courage
Diyafa: Hospitality
The Economic and Cultural Transformation Driven by the Changing Role of Women
PART 5. Infrastructure and Human Resources
Changes in Demographic Structure and the Labor Market
The Kafala System: A Modern-Day Caste System that Binds Foreign Workers
The Potential of a Young Population and the Jobs Mismatch
Reform of the Kafala System: Shackles Loosening Bit by Bit
Strategic Response Measures for Companies
Understanding the Education System and Human Resource Development
The Structure and Characteristics of the State-Led Education System
The Revolutionary Expansion of Women's Education
Studying Abroad and the Emergence of a New Middle Class
Regional Disparities and the Future of Education
The Social Welfare System and Labor Market Support
The Lights and Shadows of Healthcare Welfare
The Unexpected Pitfalls Created by Housing Policy
The Paradoxical Situation Created by Unemployment Support
The New Future Envisioned by Vision 2030
PART 6. Macroeconomic Trends and Future Strategy
The Force that Designs the Economy: Government Strategy and Intervention
Oil-Revenue-Centered Government Finances and Their Impact
The Fixed Expenditure Structure and Policy Priorities
The Implications of the Revenue-to-Expenditure Ratio for Business
Corporate Response Strategies
The Challenges and Opportunities of Privatization Driving Economic Innovation
What Privatization Means for Corporate Management
The Changing Role of Government and the Competitive Environment for Private Firms
A Measure of Prosperity: The Meaning of Per Capita National Income
The Dual Structure of the Consumer Market and Corporate Strategy
Income Volatility and Sustainable Growth Strategy
The Race Toward Growth: Economic Growth
Growth Engines and Structural Limits
The Reality of Reform and Managing Uncertainty
A Strategic Approach to Sustainable Growth
The Challenge of Inflation and How to Respond
The Current State of Inflation and Its Impact on Corporate Management
Corporate Response Strategies and Seizing Opportunities
Changes in the Financial Environment and Financing Strategy
Exploring Long-Term Strategy and Opportunity Factors
The Counterweight of Saudi Finances: External Debt Status and Management Strategy
The State of External Debt and Its Economic Implications
Risks and Opportunities for Corporate Management
Strategic Response Measures
PART 7. Strategies for Successful Market Entry
The Unique Nature of the Saudi Market and the Need for Joint Ventures
Localization Requirements and Practical Entry Strategies
The Political-Economic Control System and the Limits Faced by Foreign Companies
The Strengthened Saudization Policy and Local Employment Obligations
The Complex Regulatory Environment and Legal Uncertainty
Cultural Particularities and Business Practices
Geopolitical Risk and Economic Uncertainty
Real Market Entry Barriers
The Strategic Advantages of Joint Ventures and Practical Strategies
Expanding Opportunities to Win Large-Scale Projects
Creating Complementary Synergies
Government Networks and the Approval Process
Risk Diversification and Crisis Management
Concrete Strategies for Joint Ventures in the Construction Sector
Practical Precautions
A Key Checklist for Joint Venture Negotiations
The True Meaning of Partner Due Diligence
Strategic Design of Equity Structure and Decision-Making Rights
Specifying Deadlock Clauses
Designing a Strategic Exit
A Realistic Approach to Protecting Intellectual Property
Systematic Management of Cash Flow
Thorough Design of Insurance and Guarantees
Internationalizing Dispute Resolution
Dynamic Management of the Regulatory Environment
Appendix. A Practical Guide to Establishing a Local Corporation
