The Ministry of Municipal, Rural Affairs and Housing and the Ministry of Investment in Saudi Arabia have signed a memorandum of understanding (MoU) with the Korean group NAVER, NAVER LABS and NAVER Cloud, which specialize in information technology. This move is aimed at boosting cooperation in developing investment opportunities in the Kingdom of Saudi Arabia and achieving common goals.
The signing of the MoU was attended by the Minister of Municipal, Rural Affairs and Housing, Majid Abdullah Al-Hogail and the Minister of Investment, Eng. Khalid Abdulaziz Al-Falih. The Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Digital Transformation and Smart Cities, Musaed bin Abdullah Al-Otaibi and the Undersecretary of the Ministry of Investment for Investment Development, Fahd bin Jamal Al-Naim, signed the MoU on behalf of their respective ministries. The Korean group NAVER was represented by Seon-Ju, Seok Sang-ok and Sang-young Han from NAVER, NAVER LABS and NAVER Cloud, respectively.
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The MoU seeks to promote cooperation and collaboration among the parties to enhance investment in the Kingdom of Saudi Arabia. The agreement also aims to unify efforts with relevant authorities to achieve common goals. This partnership will pave the way for the Korean group to invest in the Saudi market, which will open up new opportunities for growth and development in the information technology sector.