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NAVER and Samsung C&T Sign Agreement for Smart City Construction in Saudi Arabia

2024-02-29 2 min read


NAVER and Samsung C&T Sign Agreement for Smart City Construction in Saudi Arabia

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NAVER announced on the 28th that it is set to expand its future business ecosystem in collaboration with Samsung C&T. On this day, NAVER Cloud, NAVER Labs, and Samsung C&T signed a memorandum of understanding at the NAVER 1784 building for ‘Collaboration on home/building solutions and the development of construction innovation ICT technologies in Korea and Saudi Arabia’.

The signing ceremony was attended by Oh Se-chul, representative of Samsung C&T; Chae Sun-ju, representative of NAVER’s External/ESG Policy; Kim Yu-won, CEO of NAVER Cloud; and Seok Sang-ok, CEO of NAVER Labs, among others.

This MOU encompasses broad cooperation between Team NAVER and Samsung C&T on the digitalization of spaces such as offices based on future technology, expansion into the global market with advanced smart cities, and strengthening of the construction industry’s competitiveness through the use of ICT technologies.

The NAVER 1784 building, a “Tech Convergence Building” constructed by Samsung C&T, incorporates various advanced technologies such as AI, cloud computing, autonomous driving, robotics, and 5G. Samsung C&T and NAVER plan to enhance synergy by integrating these technologies with home/building platforms. The companies aim to continue their collaboration, ranging from the realization of future-oriented office buildings to next-generation platform businesses targeting B2B customers, with the goal of further materializing and expanding into global business.

Especially since Team NAVER has won the digital twin construction project in Saudi Arabia, the business is expected to expand locally based on the collaboration with Samsung C&T. Samsung C&T is also actively continuing its business in Saudi Arabia, including the Riyadh Metro and NEOM Tunnel, and has accumulated diverse project experiences and infrastructure capabilities both domestically and internationally.

The two companies share a blueprint for synergizing in bidding, construction, and operation of data centers, airports, shopping malls, and smart cities in Saudi Arabia, where they are strategically exerting their strength. In addition, the companies are joining forces to apply AI, robotics, autonomous driving, XR, and more in their operations to differentiate and innovate productivity and competitiveness in the construction business through the integration of advanced ICT technologies.

Jo Hye-jung, head of the DxP Business Division at Samsung C&T, emphasized, “At a time when Samsung C&T is expanding its portfolio into new businesses beyond construction, the agreement with NAVER, which possesses the country’s top technology, will accelerate our entry into future new markets.”

Han Sang-young, head of the Global DX & Innovation Division at NAVER Cloud, said, “This agreement with Samsung C&T will lay the foundation for the expansion of our business in Saudi Arabia and diversify Team NAVER’s technology to contribute to the digital transformation of various spaces including buildings, homes, and smart cities.”

[Startup News in Korea]

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  1. […] NAVER and Samsung C&T Sign Agreement for Smart City Construction in Saudi Arabia […]

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