TEAM NAVER Joins Hands with Korean Startups to Expand Saudi Digital Ecosystem
TEAM NAVER Joins Hands with Korean Startups to Expand Saudi Digital Ecosystem
TEAM NAVER Joins Hands with Korean Startups to Expand Saudi Digital Ecosystem
- TEAM NAVER Signed MOUs with 11 startups participating in LEAP 2025
- TEAM NAVER to work with various partners to expand Saudi Arabia’s digital ecosystem
- TEAM NAVER to grow together with startups possessing outstanding technology
February 11, 2025
TEAM NAVER is joining forces with domestic startups to actively expand Saudi Arabia’s digital ecosystem. Following Korea Land and Geospatial InformatiX Corporation (LX) and Korea Water Resources Corporation (K-water), TEAM NAVER is expected to strengthen its global business foundation through broader partnerships.
NAVER Cloud (CEO Kim Yu-won) signed a memorandum of understanding (MOU) on February 10 (local time) at the “LEAP 2025” event held in Riyadh, Saudi Arabia, with participating startups. The MOU focuses on “information exchange and business cooperation among Korean digital companies for entry into the Saudi digital market.”
The MOU signing was attended by Chae Seon-ju, President of ESG and External Affairs at NAVER; Kim Yu-won, CEO of NAVER Cloud; Seok Sang-ok, CEO of NAVER LABS; Lee Sang-joong, President of the Korea Internet & Security Agency (KISA); Moon Byeong-jun, Acting Ambassador of the Republic of Korea to Saudi Arabia; and representatives from 11 domestic IT startups.
[Photo] TEAM NAVER and K Startup MOU held at LEAP 2025 on February 10 (local time)
In addition, various domestic digital startups in fields such as security, smart cities, autonomous driving, AI solutions, and software development, who participated in the “LEAP 2025” event with the hope of expanding into Saudi Arabia, were present at the MOU signing ceremony.
The participating startups included SSNC (security software, CEO Han Eun-hye), Sparrow (security software, CEO Jang Il-soo), Genians (security software, CEO Lee Dong-bum), Weeds Korea (security software, CEO Kim Ki-bae), UROCK (digital forensics, CEO You Bong-seok), GITSN (security software, CEO Han Dong-jin), AXGATE (security software, CEO Joo Gap-soo), CYNIX-Systems (CCTV security, CEO Lee Joo-bong), MOBILTECH (smart city / autonomous driving, CEO Kim Jae-seung), OCTATCO (security software, CEO Lee Jae-hyoung), and VIRNECT (AI solutions, CEO Ha Tae-jin).
TEAM NAVER plans to use this MOU as an opportunity to collaborate with domestic startups across a range of fields with outstanding technological capabilities and further expand Saudi Arabia’s digital ecosystem. It is already continuing its collaboration with LX and K-water on Saudi Arabia’s digital twin platform development project.
Chae Seon-ju, President of ESG and External Affairs at NAVER, stated, “Saudi Arabia’s digital ecosystem, including the digital twin sector that TEAM NAVER is currently developing, is expected to grow even more rapidly in the future” and added, “We will strive to foster more substantial collaboration with domestic startups and partners that possess excellent technological capabilities and pursue global expansion so that we can grow together.” (/End)
