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Participants pose for a commemorative photo after the MOU signing ceremony between Team Naver and K-Startup at LEAP 2025 on the 10th (local time). |
[Alpha Biz= Paul Lee] Team Naver, consisting of Naver, Naver Cloud, Naver Labs, and Naver Pay, has partnered with Korean startups to develop a digital ecosystem in Saudi Arabia.
On Monday, Naver Cloud announced that it had signed a Memorandum of Understanding (MOU) with 11 Korean startups at the ‘LEAP 2025’ event in Riyadh, Saudi Arabia. The agreement aims to facilitate "information exchange and business cooperation among Korean digital companies for entry into the Saudi digital market."
LEAP 2025, hosted by Saudi Arabia’s Ministry of Communications and Information Technology (MCIT), is the Middle East’s largest technology event, often dubbed the "Saudi CES." The event began on February 9 and will run until February 12.
Attendees of the MOU signing included Chae Sun-joo, Head of Public Affairs and ESG Policy at Naver; Kim Yoo-won, CEO of Naver Cloud; Seok Sang-ok, CEO of Naver Labs; Lee Sang-jung, President of the Korea Internet & Security Agency (KISA); and Moon Byung-jun, Acting Ambassador of the Republic of Korea to Saudi Arabia. Representatives from 11 participating IT startups were also present.
The startups involved specialize in cybersecurity software, digital forensics, smart cities, and AI solutions. The companies include:
SSNC
Sparrow
Genians
Wiz Korea
URAQ
Jison
XGate
Cynics System
Mobiltech
Octaco
BUNNECT
Through this MOU, Team Naver aims to collaborate with Korean startups possessing advanced technologies to expand Saudi Arabia’s digital ecosystem. The group is already working with LX and K-water to develop a digital twin platform in the country.
Chae Sun-joo, Head of Public Affairs and ESG Policy at Naver, stated, “Saudi Arabia’s digital ecosystem, including Team Naver’s digital twin initiatives, is expected to grow rapidly. We will continue fostering practical collaborations with Korean startups and partners with cutting-edge technology to achieve global expansion together.”
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
