The Ministry of Municipality and Housing and the Ministry of Investment sign a memorandum of understanding with the Korean NAVER Group.

Monday 08 June 2026
"البلدية والإسكان" و"الاستثمار" توقعان مذكرة تفاهم مع مجموعة NAVER الكورية

Today, the Saudi Ministry of Municipal and Rural Affairs and Housing and the Ministry of Investment signed a memorandum of understanding with NAVER , LABS NAVER and NAVER Cloud , a Korean company specializing in information technology, which focuses on producing and developing information technology related to the Internet, under the patronage of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, and His Excellency the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih.

The memorandum was signed on the Saudi side by the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Digital Transformation and Smart Cities, Engineer Musaed bin Abdullah Al-Otaibi, and the Undersecretary of the Ministry of Investment for Investment Development, Fahd bin Jamal Al-Naim, while the Korean side was represented by Ms. Seon Joo on behalf of NAVER , Mr. Song Seok on behalf of LABS NAVER , and Mr. Sangyoung Han on behalf of NAVER Cloud .

The memorandum of understanding aims to enhance mutual cooperation between the parties to support and develop investment in the Kingdom, and to unify efforts between them with the relevant authorities of each party, in order to raise the level of coordination and effective joint work in everything that supports and enhances the achievement of common goals. The Ministry of Investment will support facilitating the entry of NAVER Investment Company into Saudi Arabia through obtaining licenses and other things, and exploring the possibility of transferring the company’s regional headquarters to the Kingdom in the future.

Korean companies are offering plans to develop and operate digital solutions for the Ministry of Municipal and Rural Affairs and Housing, to enable the activation of the basic pillars of smart municipalities with high efficiency in various fields such as monitoring and planning cities, municipal services, visual pollution, and conducting simulations for planning, developing, and operating the city.

It is worth noting that these agreements are an extension of strategic partnerships that the two ministries have established with a number of regional and international entities to exchange experiences and work on implementing joint projects, and to enhance mutual cooperation between the parties to support and develop investment in the Kingdom of Saudi Arabia in accordance with the National Investment Strategy, in order to raise the level of coordination and effective joint work in everything that supports and promotes the development, marketing and implementation of investments.

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The Kingdom of Saudi Arabia