SEOUL, September 23 (AJP) - South Korean tech giant Naver announced plans on Monday to set up its Middle East headquarters in Saudi Arabia by the end of 2024. The company, tentatively named “NAVER Arabia,” will participate in Saudi Arabia’s Regional HQ program, which aims to attract global companies to the kingdom.
As part of this expansion, Naver intends to collaborate on large-scale national projects in advanced technology sectors and explore various business opportunities. The company is also pursuing joint ventures with Saudi partners in specific business areas, such as the ongoing digital twin platform project with the Ministry of Municipal and Rural Affairs and Housing (MOMAH) and the National Housing Company (NHC).
Following its recent involvement in Saudi Arabia’s “Sovereign AI” initiative, Naver expects its B2B technology-based services to expand significantly in the Middle East. The company recently signed an MOU with the Saudi Data and Artificial Intelligence Authority (SDAIA) at GAIN 2024, agreeing to cooperate in AI, cloud computing, data centers, and robotics.
During their recent visit to Saudi Arabia for the GAIN 2024 conference, Naver’s top executives, including Global Investment Officer Lee Hae-jin and CEO Choi Soo-yeon, met with key government officials and business leaders. These meetings included discussions with ministers from various departments and executives from prominent companies like Aramco, NHC, and DAMAC.