Naver founder and chairman Lee Hae-jin is accelerating the corporate’s push into Saudi Arabia, signaling a broader enlargement past its present sensible metropolis tasks into digital finance infrastructure.
His newest go to to the nation’s capital Riyadh marks a key step in Naver’s efforts to determine a stronger presence throughout the Center East.
In line with the native information outlet Saudi Press Company (SPA), Lee met with the nation’s Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail, on Tuesday (native time) throughout Cityscape World 2025, one of many world’s largest building and actual property commerce gala’s, in Riyadh.
The 2 reportedly mentioned cooperation in digital finance, knowledge facilities and concrete growth based mostly on synthetic intelligence (AI), deepening ties they initially shaped when Al-Hogail visited Naver’s 1784 headquarters in Gyeonggi Province in 2022 to expertise the corporate’s digital twins, robots and AI applied sciences.
SPA reported that each side explored partnerships particularly on stablecoin-based digital currencies and actual property tokenization, in addition to increasing analysis and growth cooperation in rising applied sciences and supporting packages for science and know-how exchanges between the 2 nations.
Again house, Naver is making ready a complete inventory swap between its fintech subsidiary Naver Monetary and crypto change operator Dunamu, as a part of its entry into the stablecoin enterprise. The proposal is reportedly set to be mentioned on the upcoming board assembly on Wednesday, with the anticipated change ratio of three shares of Naver Monetary for every share of Dunamu rising because the more than likely situation.
The strikes are interpreted as Naver’s efforts to increase its Saudi Arabia enterprise past its current sensible metropolis administration tasks.
Naver has been growing digital twin platforms to Saudi sensible metropolis tasks, providing 3D mapping and simulation know-how for infrastructure monitoring and concrete planning, that are important to the nation’s digital spine of its Imaginative and prescient 2030 technique.
At Cityscape World 2025, Naver firms showcased digital twins, AI and cloud computing in property growth and concrete operations. Particularly, the businesses introduced methods to broaden digital transformation in city growth and structure, led by the digital twin platforms it accomplished in June for the Saudi cities of Mecca, Medina and Jeddah.
LG Electronics CEO Cho Joo-wan, left, and Naver CEO Choi Soo-yeon, proper, meet in the course of the Korea-UAE enterprise roundtable in Abu Dhabi, Wednesday (native time). Yonhap
In the meantime, Naver CEO Choi Soo-yeon joined President Lee Jae Myung on his United Arab Emirates go to, attending the Korea-UAE enterprise roundtable in Abu Dhabi on Wednesday (native time).
Choi, together with Samsung and SK Group executives, mentioned the specifics of collaborating with the UAE’s Stargate venture, a multibillion-dollar initiative to develop large-scale AI infrastructure. The officers from the UAE reportedly confirmed appreciable curiosity in Korea’s semiconductor, energy and cooling applied sciences, discussing the potential for Korean firm participation in vitality mix-based energy provide, large-scale vitality storage techniques and extremely environment friendly cooling infrastructure.
Naver has been intensifying its Center East enlargement, spearheading enterprise growth in Saudi Arabia by advancing sensible metropolis options and digital finance infrastructure.
Naver Cloud established a strategic three way partnership, Naver Innovation, with Saudi Arabia’s Nationwide Housing Firm in Could, officiating its involvement within the nation’s digital transformation of public and residential sectors with sensible metropolis know-how and the event of a map-powered tremendous app.
The corporate can be set to convey its robotics, autonomous driving and sensible metropolis applied sciences to Saudi Arabia’s future New Murabba district, a significant nationwide city growth venture that may function large-scale residences, and industrial and public services.
