For South Korean government officials and businesses, Saudi Crown Prince Mohammed bin Salman’s visit last week was like an early Christmas — and not simply because he booked 400 rooms at Lotte Hotel Seoul for two weeks for his entourage, including a $16,449-per-night suite for himself.

The visit marked bin Salman’s first to South Korea since 2019, and President Yoon Suk-yeol’s top priority was to seek greater cooperation between Seoul and Riyadh, including Saudia Arabia’s futuristic $500 billion desert city megaproject Neom.