Team NAVER Forges Ahead in Saudi Digital Transformation with the iot squared
Team NAVER Forges Ahead in Saudi Digital Transformation with the iot squared
Team NAVER Forges Ahead in Saudi Digital Transformation with the iot squared
- NAVER CLOUD enters a memorandum of understanding (MOU) with iot squared, a joint venture established by STC Group, a major contributor to Saudi Arabia’s digital transformation, and the Saudi Public Investment Fund (PIF)
- The partnership focuses on digital twin-based urban monitoring and smart city development, with plans to foster sustainable value chain
December 7, 2023
Team NAVER makes progress in its Saudi Arabian digital twin platform construction project, which was initially announced in October.
NAVER CLOUD (CEO Kim Yu-won) disclosed that it has signed a memorandum of understanding (MOU) with iot squared, a Saudi Arabian IoT · smart city technology solutions company, for a collaboration on Saudi Arabia’s Digital Transformation (D·X).
iot squared is a joint venture cofounded by the STC Group, a key driver of Saudi Arabia’s digital transformation, and the Saudi Arabian Public Investment Fund (PIF). This partnership, the first of its kind since NAVER’s October announcement of securing the contract for the Saudi Arabian digital twin platform, marks iot squared as a local partner for Team NAVER.
[Photo] The MOU signing ceremony between NAVER Cloud and iot squared was held in Saudi Arabia on December 3 (local time).
Chae Seon-ju, President of NAVER’s ESG and External Policy; Kim Yu-won, CEO of NAVER CLOUD; and Othman Aldahash, CEO of iot squared attended the said event.
Through this MOU, the two companies will engage in various advanced ICT initiatives encompassing IoT, digital twins, and robotics, aiding Saudi Arabia‘s digital transformation at a national scale. The partnership will leverage the digital twin platform developed by Team NAVER for applications in urban planning, monitoring, simulation, and the construction of smart cities based on robotics and autonomous driving technologies. Furthermore, they plan to explore new applications for the digital twin platform within Saudi Arabia.
Chae Seon-ju, the President of NAVER‘s ESG and External Policy, stated, “Since the digital twin we are developing in Saudi Arabia will be established as an open platform, we expect to create synergy with collaborators such as iot squared. Our focus is on dedicating various efforts to elevate the technology level of Saudi Arabia‘s smart cities, leveraging NAVER‘s expertise.”
Othman Aldahash, the CEO of iot squared, commented, “The MOU with NAVER CLOUD is a significant step that opens new opportunities for technological progress and innovation. iot squared plans to create a unique smart city platform using NAVER’s digital twin technology, paving the way for both companies to collaboratively forge a future filled with boundless potential.”
