Naver Expands to Saudi Arabia with New Middle East HQ

Seoul, South Korea - South Korean internet giant Naver Corp (035420. KS) announced plans to establish a Middle East regional headquarters in Saudi Arabia by the end of 2024.

Naver will participate in Saudi Arabia's Regional HQ (RHQ) program for global companies, cooperating on large-scale national projects in advanced technology sectors.

The company aims to form joint ventures (JVs) for individual business units in Saudi Arabia, including a potential JV with the Ministry of Municipal and Rural Affairs and Housing (MOMAH) and National Housing Company (NHC) for a digital twin platform project.

Naver recently signed an MOU with the Saudi Data and Artificial Intelligence Authority (SDAIA) at the GAIN 2024 conference, agreeing to collaborate on AI, cloud, data centers, and robotics.

Key Naver executives, including Global Investment Officer Lee Hae-jin and CEO Choi Soo-yeon, visited Saudi Arabia on September 10 for the GAIN 2024 conference.

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